The invention discloses a paint production system including a raw material barrel, a stirring kettle, a grinding mechanism, a solvent barrel, a material mixing barrel, a dispersion machine, a filter unit and a finished product barrel. Raw material in the raw material barrel is stirred by the stirring kettle, ground by the grinding mechanism, then mixed with a solvent in the solvent barrel, dispersed under the action of the dispersion machine, filtered and then loaded into the finished product barrel. A stirring unit of the dispersion machine extends to an opening area of the material mixing barrel, and the solvent barrel is communicated with the bottom of the material mixing barrel through a material lifting pipe; the material mixing barrel is communicated with the filter unit through a filter pipe, and the material after filtration is loaded into the finished product barrel. The invention also provides a paint production method by using the paint production system. The paint production system and the production method have the advantages of good stirring uniformity, high stirring effect, convenience for subsequent cleaning, good material grinding effect, good sealing effect and better adhesive performance, can increase the discharging quantify, and can perform multiple circular grinding.