The invention relates to a refining and continuous casting method for producing alloy cold heading steel by using billets, and aims at achieving the purpose of smoothly producing qualified high-classcold heading steel by using an LF refining furnace and a billet continuous casting machine. The method comprises the steps that sufficient Al is added previously in one attempt in the controlling of the LF refining furnace, alloy is blended in one attempt subsequently, S is reduced, N is controlled and weak blowing is conducted; protecting casting is adopted in continuous casting controlling, andcosting blanks are output in a constant pulling speed state. The method has the advantages that the smooth production of producing high-class alloy cold heading steel by using an LF furnace technologywhich is equipped with a billet continuous casting technology, the steel purity of the steel is ensured, the using demands of users are ensured, and a certain foundation is laid for the development of the steel.