The invention discloses a thickened oil cold production displacement agent for thickened oil production, which consists of the following components in part by weight: 2 to 5 parts of coconut oleic acid, 3 to 6 parts of triethylene tetramine and 1 to 4 parts of polyester. A production process of the thickened oil cold production displacement agent comprises the following steps of: (1) adding the 3 to 6 weight parts of triethylene tetramine into a high-temperature reaction tank, slowly adding the coconut oleic acid, synthesizing carboxylic acid amine through saponification, and turning to the next process; (2) adding amine soap which is synthesized in the previous step into an autoclave, diluting, adding a catalyst, adding the polyester, sealing the autoclave, introducing N2 into the autoclave, taking a sample, observing the process the product turns brownish red, testing the viscosity of the product, then stopping heating when the viscosity of the product reaches 200 to 500 mPa/S, cooling to room temperature, discharging and obtaining thickened oil cold production displacement agent. The thickened oil cold production displacement agent can obviously reduce energy consumption, reduce the investment in corresponding matching technology and greatly reduce the production cost of the thickened oil and can improve the yield of the crude oil and increase the yield of the crude oil at the same time.