A method for manufacturing a circuit board with a heat dissipation structure comprises: providing at least one wiring base board, the wiring base board comprising a first conductor layer, an insulation layer, and an alloy layer which are stacked in order, wherein a solder paste layer is formed on a side of the alloy layer, a part of the alloy layer is exposed out of the solder paste layer to form a thermal conductive surface; providing a core layer; and pressing two wiring base boards on two opposite sides of the core layer to form a sealed heat dissipating chamber between the thermal conductive surfaces of the two wiring base boards. The present disclosure further provides a circuit board with a heat dissipation structure.