An LTPS array substrate and a method for producing the same are proposed. The method includes: forming a gate of a thin-film transistor (TFT) of the LTPS array substrate on a substrate; forming a first insulating layer, a semiconductor layer, and a positive photoresist layer on the substrate one by one; exposing one side of the substrate on the opposite side of the gate for forming a polycrystalline silicon layer; forming a second insulating layer on the substrate of the polycrystalline silicon layer; forming a source and a drain of the TFT on the second insulating layer so that the source and the drain is electrically connected to the polycrystalline silicon layer via a contact hole. The use of masks in types and in numbers in the LTPS technology will be reduced. So, both of the processes and the production costs are reduced.