The invention discloses a high-speed steel saw blade inlaid with teeth. The high-speed steel saw blade is composed of a circular saw blade base body and high-speed steel particles. A steel plate is used as a cutting edge of a toothed part of the circular saw blade base body, and the multiple high-speed steel particles are inlaid and welded into the cutting edge. The invention further discloses a manufacturing method of the high-speed steel saw blade inlaid with the teeth. The manufacturing method comprises the step of inlaying the high-speed steel particles in the circular saw blade base body. According to the high-speed steel saw blade inlaid with the teeth and the manufacturing method of the high-speed steel saw blade, spring steel is used as the cutting edge of the toothed part of the circular saw blade base body, and the high-speed steel particles are inlaid in the portion, with the dimension of 20 mm, of the cutting edge; the high-speed steel material consumption is extremely low under the condition that the same performance as that of an integral high-speed circular saw blade is achieved, the utilization rate of high-speed steel materials of the high-speed steel circular saw blade is increased, material waste of the saw blade is greatly reduced, the manufacturing precision of the saw blade is improved, and the cost is reduced.