The invention relates to urethane elastic fiber/silk crape ground knitted fabric and its manufacturing method. It includes the following steps: using urethane elastic fiber as centre thread; covering its outer layer with silk composite yarn to form knitted fabric; putting in corrugating processing liquid formed by 0.5-5% hydrophilicity carbamates high molecule matter and 0.5-3% hydrophilicity polypeptide protein high molecule matter to gain cycle junction state urethane elastic fiber/silk crape ground knitted fabric. It utilizes the shrinking of the urethane elastic fiber heat yarn and the no shrinking of the silk yarn outer layer to make special loop crape ground structure to realize crape ground effect. The formed fabric has good resiliency, little washing deformity, good feel, moisture absorption, and quick drying effect. It overcomes the defect that the traditional silk crape clothes is easy to stick together caused by human body perspiring, and increases its comfortable.