The invention provides a molding device for a drawstring garbage bag and a production technology thereof. The molding device comprises a rack, wherein a feeding roller, which sleeves two sides of therack, is arranged at the upper side of an input end of the rack; a plastic thin film, which is discharged along the rotation of the feeding roller and is bundled, sleeves the feeding roller; a foldingdevice for inward folding one side of the plastic thin film is arranged at the lower side of an output end of the feeding roller; the rack is provided with a perforating device which is located at the upper side of the plastic thin film and is used for perforating a side part of the plastic thin film; a pair of wire guide plates for penetrating drawstring wires into folding positions of the plastic thin film are arranged at the left side of the perforating device; an inclined groove, which communicates with the left side of the wire guide plate, is formed in the surface of each wire guide plate; each drawstring wire is wound on the surface of the corresponding wire guide plate from the bottom of the wire guide plate and then passes through the corresponding inclined groove to penetrate out of the left side of the wire guide plate from the inner part of the wire guide plate, so as to enter the folded inner part of the plastic thin film; and a pair of bag heat sealing devices for pressing the plastic thin film and carrying out edge sealing are transversely symmetrically arranged at the left side of each wire guide plate. The molding device for the drawstring garbage bag is reasonable in design, ingenious in structure and efficient and convenient.