The invention discloses a production method and application of an InP resistive random access memory material, and belongs to a microelectronic production technology field. The production method comprises steps that 1) a monocrystal InP wafer used as a target material is disposed in a pulse laser device cavity; 2) a substrate is disposed in the pulse laser device cavity, and an electrode is disposed on the surface of the substrate in a deposited manner; 3) the pulse laser device cavity is vacuumized; 4) the substrate is heated; 5) an InP film is deposited on the substrate by using a pulse laser deposition method; 6) the substrate provided with the InP film in a deposited manner is annealed under a vacuum condition at a temperature in a range from 600DEGC to 800 DEG C, and after cooling, the InP resistive random access memory material is acquired. The InP resistive random access memory material has a good storage characteristic, and the resistive random access memory produced based on the above mentioned material has advantages of wide memory window, long data hold time, and high durability.