The invention discloses an insulating cylinder for a dry-type transformer. The insulating cylinder is arranged between a high-voltage coil and a low-voltage coil and comprises an inner single film material layer, an outer single film material layer and multiple preimpregnation type insulating material layers arranged between the inner layer and the outer layer, wherein the film material layers can be resistant to temperature of 150-220 DEG C, the two ends of the insulating cylinder stretch out of the upper ends of the high-voltage coil and the low-voltage coil and the lower ends of the high-voltage coil and the low-voltage coil respectively, and the low-voltage coil is a foil winding non-poured coil. The invention further discloses a method for manufacturing the insulating cylinder for the dry-type transformer. The insulating cylinder has the advantages of being easy to machine, low in cost and flexible in shape. Meanwhile, insulating property is good, installation can be achieved conveniently in a sleeved mode, and the common problems of existing insulating cylinders that machining is difficult, period is long, cost is high, and shape is irregular are solved. The insulating cylinder is especially suitable for a dry-type transformer with an oval cross section and an amorphous alloy dry-type transformer with a square cross section.