The invention provides a thick plate with excellent plasticity and toughness for pipelines and a production method of the thick plate. The thick plate is prepared from components in percent by weight:0.025%-0.055% of C, 0.26%-0.40% of Si, 1.51%-1.75% of Mn, smaller than or equal to 0.010% of P, smaller than or equal to 0.0015% of S, 0.02%-0.05% of Nb, 0.010%-0.030% of Ti, 0.16%-0.35% of Cr, 0.06%-0.19% of Mo, smaller than or equal to 0.20% of Ni, smaller than or equal to 0.15% of Cu, 0.010%-0.025% of Al, 0.0010%-0.0040% of N, 0.0015%-0.0040% of Ca and the balance iron and inevitable impurities, wherein Ca / S is larger than or equal to 1.6. The production method includes the steps of converter smelting, external refining, continuous casting, heating, rolling and cooling. The thickness of the thick plate produced through the method is larger than 26 mm, and the transverse yield ratio does not exceed 0.83; and the longitudinal yield strength is 450-530 MPa, the longitudinal tensile strength is 590-670 MPa, the longitudinal uniform elongation UEL is larger than or equal to 10%, the longitudinal yield ratio does not exceed 0.82, and the strain hardening exponent n is larger than or equal to 0.1.