The invention provides a 5005H34 aluminum alloy plate and a production method thereof. The 5005H34 aluminum alloy plate is prepared from the following components in percentage by mass: less than or equal to 0.2 percent of Si, less than or equal to 0.55 percent of Fe, less than or equal to 0.15 percent of Cu, less than or equal to 0.2 percent of Mn, 0.75 to 1.0 percent of Mg, less than or equal to0.1 percent of Cr, less than or equal to 0.2 percent of Zn, 0.01 to 0.05 percent of Ti, less than or equal to 0.05 percent of a single content of other impurities, less than or equal to 0.15 percent of the total content of all impurities and balance of Al. A production technological process comprises the following steps: casting, saw cutting, milling, cast ingot heating, hot rolling, cold rolling,washing and baking, and transverse cutting. According to the production method provided by the invention, the property of a product can be ensured, a production process can be shortened, the mechanical property can be controlled through hot rolling and cold rolling, the product which is 2.0 to 3.0 mm in thickness and is in a 5005H34 plate state can be produced, and the cost is saved.