The invention relates to compact siro spinning air conditioning/modal fiber blended knitted fabric. The fabric is composed of viscose-based air conditioning fiber 50/modal fiber 50 14.8tex (40s) siro spinning knitted yarn accounting for 97% and 20 D spandex filaments accounting for 3%, and the textile tissue is weft plain stitch tissue. The fabric producing method includes the steps that 1, spinning raw materials are selected and matched; 2, compact spinning equipment and a siro spinning device are used for air conditioning/modal spinning; 3, compact siro spinning air conditioning fiber 50/modal fiber 50 blended yarn is woven in a knitted mode; 4, the compact siro spinning air conditioning/modal fiber blended knitted fabric is dyed; 5, afterfinish is carried out on the compact siro spinning air conditioning/modal fiber blended knitted fabric. The fabric is soft, comfortable, ventilating and smooth in handfeel, absorbs moisture, has a temperature adjusting function and has obvious advantages in functionality, fashionability, additional value, economic benefits and the like.