The invention pertains to the metal material processing field and particularly provides a TRIP steel sheet used for high-strength cold rolling and hot galvanizing and a manufacturing method thereof. The TRIP steel sheet comprises the following components: 0.1wt percent to 0.4wt percent of C, not more than 0.06wt percent of Si, 0.5wt percent to 2.5wt percent of Mn, 0.5wt percent to 2.0wt percent of Al, not more than 0.03wt percent of P, not more than 0.02wt percent of S, 0.01wt percent to 0.10wt percent of Nb, 0.01wt percent to 0.10wt percent of Ti, 0.1wt percent to 1.0wt percent of Cu, 0.1wt percent to 0.6wt percent of Ni and the rest is iron. Through the measures of the control of the content of the elements such as C, Mn, Nb and Ti in the steel, and the temperature and time of hot rolling, reeling, cold rolling and annealing, etc., the comprehensive performance of the TRIP steel sheet is improved. Compared with the traditional transformation-induced plasticity (TRIP) steel, the TRIP steel sheet has the following advantages of: 1) good platability: due to the low silicon adopted, the requirements of the plating layer of hot plated pure zinc and alloy plated zinc can be met to obtain the plating layer with good performance; 2) good grain refining effect: due to Nb micro-alloying, grain can be effectively refined.