The invention discloses 1500MPa-grade cold-formed strip steel and a production method thereof. The strip steel is prepared from the following chemical components in percentage by mass: 0.25-0.40% of C, 1.10-1.70% of Mn, less than or equal to 0.012% of S, less than or equal to 0.020% of P, 0.10-0.30% of Si, 0.030-0.050% of Als, 0.20-0.40% of Cr, 0.0010-0.0030% of B, 0.035-0.050% of Ti, 0.15-0.30% of V, less than or equal to 0.0030% of N, and the balance iron and inevitable impurities. The production method comprises processes of molten iron pretreatment, converter steel-making, LF furnace refining, RH refining, continuous casting, hot-rolling, cold-rolling, continuous annealing and flattening. The structure of the strip steel comprises a uniformly distributed martensite and austenite formedstructure and a little ferrite, has ultrahigh strength, and excellent welding and cold-forming performance.