The invention discloses a manufacturing method of 500MPa-grade cold-rolled magnetic steel, which comprises the following steps that: (1) heating a slat to 1200 to 1260 DEG C, then rolling the slab into a steel sheet, the final rolling temperature is 830 to 890 DEG C, and adopting a laminar flow cooling way to cool the steel sheet to 550 to 600 DEG C to be rolled; (2) cooling the steel sheet in anair cooling way, and acid-washing the steel sheet; (3) cold rolling; (4) continuous annealing: the temperature of a uniformly-heated section of an annealing furnace is controlled within the range of 740 to 760 DEG C, the speed of the annealing process section is controlled at the range of 120 to 125 meter per minutes, and the time of the uniformly-heated section is controlled within the range of 230 to 239 s; (5) flattening. The cold-rolled magnetic steel produced with the method has high yield strength which can reach more than 570 MPa, uniform performance, small performance difference, favorable match between the magnetic sensing strength and the strength of the steel plate, favorable shape, high size precision, good surface quality and high yield.