The present application relates to the technical field of electroplating, and particularly to a bonding copper wire plated with palladium and gold and an electroplating process thereof. The electroplating process includes: electroplating a first palladium layer on a surface of a copper wire with a first palladium plating solution, electroplating a second gold layer with a first gold plating solution to obtain a semi-finished product, electroplating a third palladium layer onto the semi-finished product with a second palladium plating solution, and electroplating a fourth gold layer with a second gold plating solution to obtain a finished product; and the first palladium plating solution comprises tetraamminepalladium acetate, 4-sulfamoylbenzoic acid and 6-azauracil.