The present invention belongs to the chemical technology field, particularly relates to polypropylene fiber containing a composite nitrogen phosphorus flame retardant used for periwig and its production method. The invention is characterized in that the components comprise by mass: 100 parts of polypropylene, 5 to 20 parts of dehydrating agent, 5 to 20 parts of charring agent, 5 to 20 parts of foaming agent, 1 to 5 parts of coupling agent, 1.5 to 2.5 parts of heat stabilizer and 1.0 to 2.0 parts of polypropylene heat degradation masterbatch. Polypropylene, the heat stabilizer and polypropylene heat degradation masterbatch are added into a high-shear mixer in proportion, the dehydrating agent, the charring agent, the foaming agent and the coupling agent are orderly added for improving the continuously stirring mixing rotating speed, color masterbatch is added and the rotating speed is kept, the material is discharged after continuously stirring, the discharged material is extruded by adouble screw extruder, melt spinning is performed after drying, the extruded nascent fiber is cooled and reeled by crosswind and a filament is obtained after drawing-off. The present invention has the advantages of non-toxicity, smoke suppression, friendly environment and the like.