The invention discloses an X70 large deformation resisting pipeline steel and a manufacturing method. The steel comprises chemical components including, by mass percent, 0.04%-0.09% of C, 0.15%-0.55% of Si, 1.45%-1.75% of Mn, 0.04%-0.10% of Nb, 0.02%-0.08% of V, 0.01%-0.03% of Ti, 0%-0.20% of Cu, 0.15%-0.55% of Ni, 0%-0.15% of Mo, 0.15%-0.45% of Cr, 0.025%-0.045% of Al, 0.0002%-0.011% of N, smaller than or equal to 0.015% of P, smaller than or equal to 0.005% of S, and the balance Fe and other inevitable impurity elements. Production of the X70 large deformation resisting pipeline steel comprises the following process routes of material preparing, converter or electric furnace smelting, furnace exterior refining, casting, slab reheating, controlled rolling and controlled cooling, and after two-phase region quenching, tempering is conducted or the tempering technology is not adopted. Compared with the prior art, the X70 large deformation resisting pipeline steel and the manufacturing method have the beneficial effects that the yield ratio is lower, the uniform ductility is higher, tenacity matching is better, the steel plate and copper plate performance difference is small, the structure uniformity in the thickness direction is high, and the strip-shaped level is low.