An MIM capacitor and a manufacturing method therefor. The manufacturing method comprises: providing a semiconductor substrate, and forming a first metal layer on the semiconductor substrate; forming an anti-reflection layer on the first metal layer; performing photoetching and etching on the first metal layer and the anti-reflection layer so as to define an MIM capacitor region, wherein the first metal layer in the MIM capacitor region serves as a lower electrode plate of the MIM capacitor, and the anti-reflection layer in the MIM capacitor region serves as a dielectric layer of the MIM capacitor; and forming an upper electrode plate of the MIM capacitor on the anti-reflection layer in the MIM capacitor region.