The invention relates to a composite brake lining for a low-floor light rail vehicle and a manufacturing method thereof. The manufacturing method comprises the following steps: firstly, preparing raw materials from the following components in percentage by weight: 15 to 60 percent of modified phenolic resin, 0 to 15 percent of polyester polyurethane, 0 to 15 percent of butadiene-acrylonitrile rubber, 0 to 15 percent of ethylene-propylene-diene-terpolymer rubber, 5 to 15 percent of carbon fibers, 2 to 18 percent of graphite and 10 to 25 percent of friction property modifying agent, wherein raw materials of the composite brake lining comprise at least two of polyester polyurethane, butadiene-acrylonitrile rubber or ethylene-propylene-diene-terpolymer rubber; adding the raw materials into a high-speed rake-type mixer to mix for 5 to 10 minutes, performing the reaction on the materials in a forming die for 300 to 600 seconds at a temperature of 20 to 160 DEG C under a pressure of 200 to 600kg/cm<2>, and then sintering a formed brake lining at a high temperature so as to obtain the composite brake lining, wherein the sintering temperature is 100 to 120 DEG C and the sintering time is 2 to 20 hours. Compared with the prior art, the composite brake lining disclosed by the invention has the advantages of high stability coefficient, low abrasion, long service life and the like.