The invention discloses a high-performance pin shaft and a machining method thereof. According to the method, a carbon-nitrogen-lanthanum-yttrium ion permeating agent, a lanthanum-yttrium activation permeating agent and an oxygen ion permeating agent are utilized, non-metal elements and trace metal elements permeate into the surface of a pin shaft matrix to form a compound layer and a metal oxidation layer, an anti-abrasion layer is formed on the surface of the pin shaft matrix, the service life of the pin shaft is greatly prolonged, the corrosion resistance of the pin shaft is greatly improved, good mechanical performance is further achieved, and the precision of the pin shaft is not affected by surface treatment. The melting points of the permeating agents are low, good stability is achieved, ions cooperate with one another, the permeating effect can be effectively guaranteed, and therefore the product quality can be guaranteed.