The invention belongs to the field of metallurgy, in particular relating to low-alloy structural strip steel with high strength and high toughness and a production method thereof. The invention provides Nb-V-Ti low-alloy structural strip steel with high strength and high toughness and the production method thereof, wherein the strip steel has simple control of hot rolling technique and low production cost. The low-alloy structural strip steel with high strength and high toughness comprises the following chemical components by weight percent: no more than 0.010% of C, no more than 0.30% to 0.50% of Si, no more than 1.20 to 1.40% of Mn, no more than 0.015% of P, no more than 0.010% of S, no more than 0.010% to 0.020% of Nb, no more than 0.04% to 0.07% of V, no more than 0.006% to 0.02% of Ti, and balance of Fe and inevitable impurities. The low-alloy structural strip steel with high strength and high toughness can be used as parts on power-transmission iron powers, steel structures, and the like with high requirements for strength and toughness, and has the advantages of simple production method, low production cost, and the like.