The invention discloses a processing method of molybdenum and molybdenum alloy narrowband, comprising the following steps: 1. adopting a rolling mill to roll molybdenum or molybdenum alloy wires to obtain a rolled narrowband; 2. adopting a drawbench to draw the rolled narrowband according to cold drawing technique to obtain a finished narrowband. The drawing process comprises the following steps:manufacturing a heterotype drawing die, smearing a layer of lubricant evenly on outer surface of the rolled narrowband, wherein the lubricant is formed by evenly mixing transformer oil and butter with the mass ratio accounted by butter being 20-50%, penetrating the rolled narrowband smeared with lubricant through the deltoid drawing die pore and sending into a material clamp of the drawbench to be clamped tightly, afterwards starting the drawbench to draw to obtain the finished narrowband. The invention is convenient in processing and manufacturing, good in use effect, high in quality of the processed molybdenum and molybdenum alloy narrowband, and can effectively solve various defects and shortcomings existing in the current molybdenum and molybdenum alloy narrowband processing method.