The invention discloses a swelling pressure forming and manufacturing method of a zirconium corrugated pipe. In a process of manufacturing the zirconium corrugated pipe, two times of thermal treatment and temperature swelling pressure formation are adopted, wherein a temperature swelling pressure formation process adopts heating swelling pressure formation. Before and after the zirconium corrugated pipe is subjected to swelling pressure formation, a stress-relief heat treatment procedure is reasonably increased, crests and troughs of the formed zirconium corrugated pipe are in smooth transition without corner angles, and materials uniformly extend and are better in plasticity. A special swelling pressure formation device and a heating device in a swelling pressure formation process are designed, and a proper swelling process method is selected, thus the formed zirconium corrugated pipe is more accurate in size and higher in yield. The swelling formation quality of a zirconium corrugated pipe blank is optimized through reasonably selecting a welding method and a welding parameter and carrying out cleaning treatment before welding, thus the problem of sensitivity of a zirconium material to impurities is effectively reduced.