The invention provides carbon dioxide corrosion resistant pipeline steel and a manufacturing method thereof. The carbon dioxide corrosion resistant pipeline steel comprises the chemical components of,by mass, 0.02%-0.04% of C, 0.10%-0.50% of Si, 0.90%-1.65% of Mn, 0-0.015% of P, 0-0.003% of S, 0.5%-2.0% of Cr, 0.10%-0.50% of Mo, 0.03-0.08% of Nb, 0.01-0.05% of Ti, 0-0.06% of V, 0-0.50% of Cu, 0-0.50% of Ni, 0-0.22% of Pcm, and the balance Fe and unavoidable impurities. According to the carbon dioxide corrosion resistant pipeline steel and the manufacturing method thereof, the requirement of conventional pipeline steel for the Cr element is broken, the condition is matched with optimization design of other alloy elements at the same time, under the condition of little adding of microalloyelements, through corresponding control of smelting and rolling technology, the pipeline steel with good carbon dioxide corrosion resistance and small anisotropism is obtained, and compared with performance of common X65, the carbon dioxide corrosion rate is lowered by 40% or above.