The thermodynamic behavior of twin-roll casting (TRC) lead alloy strip process directly affects the forming of the lead strip, the quality of the lead strip and the production efficiency. However, there is little research on the thermodynamics of lead alloy strip at home and abroad. The TRC lead process is studied in four parameters: the pouring temperature of molten lead, the depth of molten pool, the roll casting speed, and the rolling thickness of continuous casting. Firstly, the thermodynamic model for TRC lead process is built. Secondly, the thermodynamic behavior of the TRC process is simulated with the use of Fluent. Through the thermodynamics research and analysis, the process parameters of cast rolling lead strip can be obtained: the pouring temperature of molten lead: 360–400 °C, the depth of molten pool: 250–300 mm, the roll casting speed: 2.5–3 m/min, the rolling thickness: 8–9 mm. Based on the above process parameters, the optimal parameters(the pouring temperature of molten lead: 375–390 °C, the depth of molten pool: 285–300 mm, the roll casting speed: 2.75–3 m/min, the rolling thickness: 8.5–9 mm) can be gained with the use of the orthogonal experiment. Finally, the engineering test of TRC lead alloy strip is carried out and the test proves the thermodynamic model is scientific, necessary and correct. In this paper, a detailed study on the thermodynamic behavior of lead alloy strip is carried out and the process parameters of lead strip forming are obtained through the research, which provide an effective theoretical guide for TRC lead alloy strip process.