The invention relates to the field of cables, and in particular relates to a low-smoke halogen-free flame-retardant cable and a manufacturing method thereof. The low-smoke halogen-free flame-retardant cable comprises a conductive core, wherein an insulating layer is arranged outside the conductive core and has a three-layer structure; the outer layer is made of low-smoke halogen-free flame-retardant polyolefin; and the middle layer and the inner layer are made of cross-linked polyolefin. The insulating layer of the cable is designed into an asymmetrical three-layer structure, so that the insulating layer has low-smoke halogen-free flame retardancy, excellent tensile strength, breaking elongation and other comprehensive mechanical properties, and the insulating layer of the cable has high voltage-resistant level.