The invention belongs to the technical field of steel rail manufacturing and particularly relates to a high-strength and toughness hypereutectoid steel rail and a manufacturing method thereof in orderto solve the problems that the fracture surfaces of the rail heads of a hypereutectoid steel rail prepared in the prior art is not uniform in performance, and the obtained hypereutectoid steel rail is poor in performance. The manufacturing method of the high-strength and toughness hypereutectoid steel rail, provided by the invention, comprises the following steps of a, hot-rolling a steel billetinto a steel rail; b, cooling the top surface of the rail heads and the two side faces of the rail heads until the temperature of the center of the top surface reaches 700 DEG C when the temperature of the center of the top surface of the steel rail is air-cooled to 820 DEG C; and c, cooling the top surface, the two side faces and the lower jaws of the two sides of the rail heads until the surfacetemperature of the rail heads reaches 530-550 DEG C, cooling the top surfaces and the two side faces of the rail heads to 450-480 DEG C and air-cooling the rail heads to the indoor temperature. The steel rail with more excellent performance is prepared through control over steel ingredients in a three-stage accelerated cooling method and is suitable for heavy haul railways.