A hot and cold composite formed square and rectangular steel tube and a production method for the same are provided. The radius of an outer corner of the square and rectangular steel tube meets the following conditions: when t is less than or equal to 6 mm, R is greater than 0 and less than 2.0 t; when t is greater than 6 mm and less than or equal to 10 mm, R is greater than 0 and less than 2.5 t; when t is greater than 10 mm, R is greater than 0 and less than 3.0 t, wherein t is the wall thickness of a straight tube part of the square and rectangular steel tube; R is the radius of each of the outer corners of the four corners of the square and rectangular steel tube; and the wall thickness of each corner of the square and rectangular steel tube is between 1.0 t and 1.8 t.