The invention discloses a five layers co-extruded blown film, and a production technology and an application thereof. The five layers co-extruded blown film is formed by compounding a surface layer I, an inner layer I, a core layer, an inner layer II and a surface layer II which have a symmetric structure. The production technology comprises the following steps: respectively adding the raw materials of all the layers into the hopper of a blowing machine, and controlling the temperatures of cylinders connected with hoppers to make the raw materials of every layer in every hopper be mixed and molten in order to respectively obtain melt mixtures; and simultaneously extruding the melt mixtures in the five hoppers, respectively controlling the extrusion speeds, and blowing up the extruded materials through a die to form the five layers co-extruded blown film. The five layers co-extruded blown film has excellent performances when applied to make medicinal films.