A method for manufacturing an artificial reef based on industrial waste is disclosed. Industrial wastes, including red mud, blast furnace slag, the sludges from the factories of refining raw ore, broken pieces of glass, the stone powders from the anti-pollution facilities equipped in stone- or aggregate-extracting spots, the slurries from the terminal treatment plants of water and sewage, the ashes from the incinerators for household wastes, the pulp sludges and slurries from paper mills, the coal ashes from thermoelectric power plants, and the side-products produced upon coal mining, are utilized, alone or in combination with a plasticizer and a mineralizer, in constructing artificial fishing reeves through pug-milling, molding and thermal treatment processes. The artificial fishing reef, through which the industrial wastes are converted into environment-affinitive resources, have advantages of being economically favorable and producing no pollution of the environment.