The invention relates to a production line and a process of fine steel wires hot-dip coated with a zinc-aluminum alloy. The production line is characterized by comprising a pay-off machine, a plating aiding tank, a high-frequency induction heating device, a zinc pot, a gas wiping device, a water cooling device and a take-up machine, all of which are orderly connected according to process conditions; a front centering adjusting roller is arranged between the high-frequency induction heating device and the zinc pot, while a rear centering adjusting roller is arranged between the zinc pot and the take-up machine; the zinc pot is of a horizontal overflow type double zinc pot structure and comprises a large zinc pot and a small zinc pot; a zinc pump is mounted within the large zinc pot; the large zinc pot is an immersed alloy tube electric heating zinc pot, while the small zinc pot is an anticorrosion alloy zinc pot; the small zinc pot is immersed into the large zinc pot in the direction of the production line; a zinc liquid inlet and an overflow gate are formed in the small zinc pot; the zinc liquid in the large zinc pot is pumped into the small zinc pot by using the zinc pump, and the zinc liquid in the small zinc pot overflows back to the large zinc pot via the overflow gate; the gas wiping device comprises a nitrogen supply unit, a gas knife and a gas knife mounting rack.