Provided is a safety film, which comprises a microlens array layer, a micro image-text layer and a substrate layer. The microlens array layer and the micro image-text layer are arranged at the two side surfaces of the substrate layer respectively. The micro image-text layer comprises a background portion and a micro image-text portion. The background portion is arranged on the substrate layer; and the micro image-text portion is arranged on the background portion. The micro image-text portion is provided with images and texts. The micro image-text layer is internally provided with a toner. The thickness of the background portion is different from that of the micro image-text portion. The safety film can effectively enhance and highlight micro images and texts to improve image-text contrast, and reduce production cost and production period. The invention also relates to a manufacturing method of the safety film.