An organic light-emitting diode and a manufacturing method thereof are provided. The organic light-emitting diode includes: a substrate (10) and a first light extraction layer (20), a first electrode layer (30), a light-emitting layer (40), a second electrode layer (50) and an encapsulation layer (70) that are sequentially disposed on the substrate, wherein the organic light-emitting diode further includes a second light extraction layer (60), and the second light extraction layer (60) is disposed adjacent to the encapsulation layer (70); the light-emitting layer (40) is an organic light-emitting layer and the first electrode layer (30) is an anode layer or a cathode layer and correspondingly the second electrode layer (50) is a cathode layer or an anode layer.