The invention provides a method for manufacturing an LED chip electrode which is low in bonding wire cost and reliable in welding spot. The method comprises the steps that a P-type semiconductor layer, a light-emitting layer and a negative-N-type semiconductor layer are etched on a part of a zone of a manufactured LED epitaxial wafer, the exposed N-type semiconductor layer is etched so that an N-type electrode zone can be formed and a P-type semiconductor zone which is not etched can form a P-type electrode zone; a zone, needing electrode manufacture, of the P-type electrode zone is plated with a first electrode contacting layer not in ohmic contact with the P-type semiconductor layer; the electrode contacting layer is plated with a current blocking layer; a zone, not covered by the electrode contacting layer and the current blocking layer, of the P-type electrode zone is plated with a current dispersing layer; the current blocking layer is plated with a second metal electrode contacting layer in ohmic contact with the current dispersing layer; the second electrode contacting layer is plated with a third electrode contacting layer; the third electrode contacting layer is plated with an electrode bonding wire layer made of gold according to the chemical method.