The invention discloses a vanadium-containing and nitrogen-containing steel material with high yield strength and a production method and application thereof. The mass percentage of vanadium in the vanadium-containing and nitrogen-containing steel material is 0.028-0.037%, and the mass ratio of vanadium to nitrogen is (3.17-3.77):1.00. The production method of the vanadium-containing and nitrogen-containing steel material with high yield strength comprises the steps that a deoxidizing agent is added during steel tapping, and then a carburetant is added; and vanadium-nitrogen alloy is added when steel tapping is conducted by a quarter, then silicon carbide, silicon iron, silicomanganese and nitrogen-rich alloy are added, and all alloy are added when steel tapping is completed by three fourths. According to the vanadium-containing nitrogen steel material with high yield strength and the production method and application thereof, the nitrogen-rich alloy are added for nitrogen increment according to the ideal ratio of vanadium to nitrogen, so that a large quantity of vanadium originally in solid solution state is converted into vanadium in precipitated-out state, the number of precipitated phases of vanadium nitride is remarkably increased, the sediment and precipitation enhancing effect of vanadium is brought into full play, and the yield strength of the steel is improved.