The invention relates to a high-corrosion-resistance hot galvanizing aluminum-magnesium-nickel rare earth alloy coated steel plate and a production technology of the steel plate. According to the steel plate, a base plate is made of low-carbon steel, alloy components of a coating include 5-25% of Al, 1-5% of Mg, 0.1-0.3% of Si, 0.01-0.1% of Ni, 0.01-0.1 of Ce and Zn. The production technology includes the steps of conducting cold rolling on a raw material plate, conducting electrolysis and degreasing, heating a vertical annealing furnace through full-radiation tubes for annealing, conducting plating on an inductive heating type zinc pot, using a pure nitrogen air knife, conducting cooling after plating, conducting finishing and tension leveling, conducting passivation, conducting drying, conducting electrostatic oiling, and conducting inspection, packaging and storage. Magnesium nickel enrichment is formed on the surface of the coating, surface oxidation resistance of the coating of the steel plate is effectively improved, and accordingly blackening resistance and corrosion resistance of the coating of the steel plate are improved. A trace amount of rare earth elements are added in the coating to be matched with a proper amount of Al and Zn, the structure of the coating is refined, and adhesiveness, welding performance and machinability of the coating are improved.