The invention discloses an electrolytic production device for a rare earth alloy. The electrolytic production device comprises a graphite electrolytic bath, graphite anodes stretching into the graphite electrolytic bath, and a cathode stretching into the graphite electrolytic bath, and further comprises a protective jacket and a rotating driving mechanism, wherein a thermal insulation layer is arranged between the protective jacket and the graphite electrolytic bath; and the rotating driving mechanism is in transmission connection with the graphite electrolytic bath, so that the rotating driving mechanism can drive the graphite electrolytic bath to rotate. According to the electrolytic production device, during the electrolytic process, the rotating driving mechanism drives the graphite electrolytic bath to rotate, an electrolyte in the graphite electrolytic bath is dynamic, carbide slag is not liable to generate on the back surfaces of the graphite anodes, the direct voltage and current transmission of the graphite anodes to the graphite electrolytic bath is obstructed, the reactive current consumption is reduced, and the purpose of energy consumption is achieved; and the direct voltage and current transmission of the graphite anodes to the graphite electrolytic bath is obstructed, so that the service life of the graphite electrolytic bath is further prolonged.