The invention relates to the field of hot-rolled pickled plates, in particular to a production method of a 540 MPa grade hot-rolled pickled plate with a low cost and a high hole expansion rate. According to the production method, through reasonable design of chemical components, a rolling process and a pickling and leveling process, the good performance and surface quality of the product are guaranteed. By adopting the production method provided by the invention, the quality problems that a 540 MPa grade hot-rolled pickled plate produced in the prior art is prone to surface peeling, internal banded structures are severe, and manganese sulfide occluded foreign substances are high in grade can be solved, and the problems that during application of the hot-rolled pickled plate, the yield is low, the moldability is poor, and the welding performance is poor can be solved.