The invention discloses elastic wool suit fabric and a processing technique thereof. The elastic wool suit fabric includes a fabric body, the upper surface of the fabric body is coated with a water-proof layer, the lower surface of the fabric body is coated with an organic germanium fiber layer, and the fabric body is formed by knitting weft with warp, wherein warp-wise comfortable elastic silks are arranged between the warp yarns at intervals, and weft-wise comfortable elastic silks are arranged between the weft yarns at intervals; the weft and the warp are both made by blending three raw materials including wool, fine wool and polyester fibers, and the mass ratio of the wool to the fine wool to the polyester fibers is 3 to (1-1.5) to (1.5-2). The elastic wool suit fabric is reasonable in design, excellent in the heat preservation performance and great in elasticity at the same time; by arranging the organic germanium fiber layer, microelements required by the human body can be released, microcirculation of the human body is improved, cell immunity is enhanced, and the effects of preventing and treating various skin diseases can be played. The processing technique is convenient to operate, and the fabric made according to the processing technique has great heat preservation performance and elasticity.