The invention discloses CSP production line-based economic high-strength steel with good forming property and a production method thereof. The CSP production line-based economic high-strength steel with good forming property comprises the following chemical ingredients in percent by weight: 0.04-0.07% of C, 0.10-0.30% of Si, 1.20-1.50% of Mn, less than or equal to 0.015% of P, less than or equal to 0.004% of S, 0.13-0.18% of Ti, 0.02-0.04% of Als, less than or equal to 0.004% of N, less than or equal to 0.002% of O, and the balance of Fe and inevitable impurity elements. The production method of the CSP production line-based economic high-strength steel with good forming property comprises the following steps: smelting molten steel, casting a steel billet, heating a plate billet, carrying out hot continuous rolling, carrying out laminar cooling, and reeling, wherein heating temperature is 1200-1240 DEG C, initial rolling temperature is 1130-1160 DEG C, final rolling temperature is 820-860 DEG C, and reeling temperature is 600-640 DEG C. The CSP production line-based economic high-strength steel with good forming property has high strength, good forming property and low cost, a preparation method and technology are simple, and energy consumption is low.