The utility model relates to underwear fabric, particularly to high-grade shrink-proof and moth-proof wool knitted underwear fabric. The high-grade shrink-proof and moth-proof wool knitted underwear fabric comprises a pure wool texture layer and a wool and tencel blend yarn texture layer, and is characterized in that the pure wool texture layer and the wool and tencel blended yarn texture layer serve as the inner layer and the outer layer of the fabric and are part connected with each other. Compared with the prior art, the high-grade shrink-proof and moth-proof wool knitted underwear fabric has the advantages that a desquamating process is eliminated to reserve the natural qualities of wool, including appearance and hand feeling, so that the effects of environment friendliness and zero damage to the wool are achieved, and meanwhile no harm is produced to a human body; besides, the surface clung to the human body is blended with a small quantity of tencel, so as to greatly improve the quality of wearing comfortability of woollies.