The invention provides a production method for cashmere/yakwool covering yarns. Cashmere and yakwool fibers are respectively used to weave rough yarns in a wool spinning system. A parallel spinning method is used to weave yakwool/vinylon fascinated yarns by using yakwool rough yarns and vinylon filaments, and then the yakwool/ vinylon fascinated yarns are used as core yarns, and the cashmere rough yarns are used as wrapping yarns to weave the covering yarns, and finally, a vinylon dissolution technology is used to remove vinylon, to obtain excellent quality cashmere/yakwool covering yarns. Using the above technology, the cashmere fibers and yakwool fibers can be made into excellent quality covering yarns in high additional value. Especially in the first step and the second step, the yakwool fibers and the cashmere fibers respectively weave rough yarns on a wool spinning system, thereby reducing damages on fibers. In the third step, the parallel spinning method is used to weave the yakwool/vinylon fascinated yarns, thereby improving fluffiness and strength of the yarns. Using the production method, the yakwool just needs to be processed in rough yarns, and the method prevents a procedure in which processing of the yakwool is relatively difficult.