The invention relates to X80M pipeline steel resistant to low temperature and large in strain and a manufacturing method and application of the X80M pipeline steel. The X80M pipeline steel is composed of, by weight, 0.03% to 0.07% of C, 0.15% to 0.35% of Si, 1.50 % to 2.00% of Mn, not larger than 0.009% of P, not larger than 0.002% of S, 0.06% to 0.09% of Nb, 0.015% to 0.020% of Ti, 0.015% to 0.025% of Zr, not larger than 0.30% of Mo, not larger than 0.35% of Cu, not larger than 0.30% of Ni, not larger than 0.30% of Cr and the balance Fe and inevitable impurities. The heating temperature is strictly controlled for implementing low-temperature heating, the grain size is prevented from being increased, and through the reasonable match of a recrystallization deformation temperature section in a rough rolling stage, the rolling reduction of the last pass of rough rolling and the temperature, the austenite grain size is reduced to the maximum degree; and a large accumulated deformation rolling technical measure is adopted in non-recrystallization region deformation in a finish rolling stage, the effect that the phase change is induced through strain is used, a large amount of fine proeutectoid ferrite is generated through low-temperature rolling deformation induction, starting cooling temperature is accurately controlled, and a ferrite and bainite double-phase structure is formed.