A composition for preparation of a hollow fiber porous membrane including 40-60 wt. % a polymer matrix, 20-30 wt. % an organic mixed solution, and 20-40 wt. % a water-soluble substance. The polymer matrix is a polymer capable of dissolving in an organic solvent and melt processing. The organic mixed solution is a mixture comprising 60-90 wt. % a first liquid soluble to the polymer matrix and 10-40 wt. % a second liquid insoluble to the polymer matrix. The water-soluble substance is a water-soluble polymer, a low molecular weight water-soluble particle, or a mixture thereof. A method for producing the hollow fiber porous membrane using the composition including a) preparing the organic mixed solution, b) mixing the components of the composition, c) applying melt spinning, d) drawing, and e) washing. The hollow fiber membrane has high strength, large flux, and low cost.