The invention relates to a composite material grinding roller and a manufacturing method thereof. The composite material grinding roller comprises a metal roller body and a plurality of wave-shaped composite bodies, wherein the wave-shaped composite bodies are embedded into a working plane of the metal roller body at equal intervals, are integrated with the metal roller body and are wave-shaped ceramic reinforcements or wave-shaped structural bodies composited from wave-shaped ceramic reinforcements and a metal substrate; the wave-shaped ceramic reinforcements are prepared by curing ceramic particles. The manufacturing method of the composite material grinding roller comprises the following steps: firstly designing and manufacturing the wave-shaped composite bodies of required sizes; then carrying out casting forming; and finally, cooling and processing, so as to obtain the composite material grinding roller. By virtue of design of the wave-shaped ceramic reinforcements, the composite material grinding roller has the structural characteristics that the ceramic reinforcements are easily and orderly arrayed in a mold cavity and are applicable to mechanical operation; the displacement and the malposition of each individual ceramic reinforcement in a casting process are effectively avoided; the whole displacement of the ceramic reinforcements in a working condition use process is avoided, and particularly, the composite material grinding roller is a secondarily poured large-sized composite material grinding roller.