The present invention relates to a high carbon steel sheet that is superior in fatigue life and a method of manufacturing the high carbon steel sheet. The high carbon steel sheet includes about 0.75 wt % to about 0.95 wt % of carbon, smaller than about 1.8 wt % of silicon, about 0.1 wt % to about 1.5 wt % of manganese, about 0.1 wt %˜1.0 wt % of chromium, smaller than about 0.02 wt % of phosphorus, smaller than about 0.02 wt % of sulfur, a residual amount of iron, and inevitable impurities. A layer interval between laminar carbides included in the high carbon steel sheet is smaller than about 0.5 μm. The high carbon steel sheet may include a fine pearlite having a lamellar structure. The fine pearlite included in the high carbon steel sheet may have a volume percentage of larger than about 90%. A ratio of length to width of the lamellar structure may be larger than about 10:1.