Provided are a pneumatic tire with a durability which is improved by preventing oxygen deterioration of coating rubber of a reinforcement layer, and a method of manufacturing the pneumatic tire. The pneumatic tire according to the present invention is a pneumatic tire including a reinforcement layer having reinforcement cords. In the pneumatic tire, the reinforcement layer is covered with thin films each made of a thermoplastic resin or a thermoplastic elastomer composition obtained by blending a thermoplastic resin with an elastomer in a way that the reinforcement is wrapped with the thin films. A method of manufacturing the pneumatic tire includes: arranging a thin film made of a thermoplastic resin or a thermoplastic elastomer composition on an outer periphery of a making drum, the thermoplastic elastomer composition being obtained by blending a thermoplastic resin with an elastomer; arranging a reinforcement layer including reinforcement cords on an outer periphery of the thin film; arranging another thin film on an outer periphery of the reinforcement layer; covering the reinforcement layer with these thin films in a way that the reinforcement layer is wrapped with the thin films; making an uncured tire including the reinforcement layer; and curing the uncured tire.