The invention provides a vertical current regulative diode and a manufacturing method thereof, and belongs to the technical field of semiconductors. The vertical current regulative diode provided by the invention comprises a cell structure and a terminal structure which are connected in sequence; the cell structure consists of a plurality of cells which are identical in structure and are connected in sequence; the terminal structure consists of a cut-off ring and a plurality of field limiting rings connected in sequence; the cells are located between a first N-type heavily doped region and an N-type lightly doped epitaxial layer and are respectively embedded into the upper surfaces of first P-type diffusion well regions to form depletion channel regions. According to the vertical current regulative diode provided by the invention, electricity is conducted by the depletion channel regions, so that the depletion channel regions are pinched off earlier than a JFET (junction field-effect transistor) region, and the pinching-off voltage is as low as 5V or less; moreover, after the depletion channel regions are pinched off, current is not increased with the increase of the voltage, so the dynamic impedance is high, and the current regulation capacity is good.