The invention provides a making process of a capsicum pumpkin sauce. The making process comprises the following steps: with capsicum and pumpkin as main raw materials, pickling fresh capsicum to obtain blank capsicum and preparing thick chilli sauce from the blank capsicum; peeling fresh pumpkin, then dicing the peeled pumpkin and carrying out steaming to prepare pumpkin paste; dissolving the pumpkin paste and salt in boiled water and uniformly mixing the solution obtained after dissolving with the thick chilli sauce and vegetable oil; carrying out heating; and then successively carrying out homogenization, filling, sterilization and the like to prepare the capsicum pumpkin sauce. The capsicum pumpkin sauce prepared by using the making process is fine and thick and has flavor unique to pumpkin and fermented capsicum; and the capsicum pumpkin sauce is rich in nutrients, ready to eat and applicable to cooking, and can be extensively used for cooking, seasoning and the like of stuffing of pastries, dipping food, seafood, dipping freshwater fish, barbecues and dishes.