The invention relates to an efficient silicon carbide corundum rare earth ceramic composite grinding wheel which comprises the following raw materials in percentage by weight: 30-75wt percent of silicon carbide abrasive, 25-70wt percent of corundum abrasive, 12-22wt percent of rare earth ceramic and 3.5-8wt percent of normal-temperature binding agent. The composite grinding wheel is manufactured by the steps of calcining, ball-milling, blending, moulding, drying, sintering, and the like. The grinding wheel of the invention has the advantages of high grinding force for grinding a difficult grinding material, sharp grains, high self sharpening, shedding in time of blunt grinding grains and no burning on workpieces. Compared with the traditional single grinding material common ceramic binding agent grinding wheel, the efficient silicon carbide corundum rare earth ceramic composite grinding wheel obviously improves the grinding efficiency; and compared with a grinding wheel adopting an expensive superhard grinding material (artificial diamond or CBN (Cubic Boron Nitride)), the efficient silicon carbide corundum rare earth ceramic composite grinding wheel obviously reduces the grindingcost and has wider adaptation and favorable economic and social benefits.