The invention provides a novel low-phosphorus low-sulfur steel smelting process. The novel low-phosphorus low-sulfur steel smelting process comprises the following steps: 1, carrying out furnace washing and steel ladle washing operations before converter smelting; 2, carrying out a desulfurization process, specifically, carrying out deep desulfurization by using high-temperature molten iron and adopting a KR desulfurization method, wherein the sulfur content in the molten iron is less than or equal to 0.001%; 3, carrying out a converter process, specifically, carrying out smelting by using a top-bottom combined blowing converter, adding self-produced first-class waste steel by adopting a single-slag remaining method, using low-phosphorus low-sulfur lime, dolomite and iron-containing oxide, carrying out converter end point control, specifically, controlling the tapping carbon content to be less than or equal to 0.04%, the phosphorus content to be less than or equal to 0.009%, the sulfur content to be less than or equal to 0.004% and the temperature to be greater than or equal to 1620 DEG C, adding a dephosphorization agent and lime in the tapping process for slag washing, adding part of lime for slag thickening treatment after tapping is finished, then carrying out slagging-off operation, and carrying out alloying after slagging-off is finished; 4, carrying out a refining process, specifically, carrying out fine adjustment on components, slagging, removing impurities and increasing the temperature; and 5, carrying out a continuous casting process, specifically, carrying out continuous casting, and finally ensuring that the content of phosphorus and sulfur in a casting blank smelting finished product is less than or equal to 100 ppm.