Provided is a lateral power device having low specific ON-resistance and using a high-dielectric constant socket structure and a manufacturing method therefor, which relate to semiconductor power devices. A source electrode (8) of the device is of a first conduction type, and a channel region (6), a silicon substrate (4) and an ohmic contact heavily-doped region are of a second conduction type; at least two isolation regions are arranged in an embedded manner in a drift region (1); between the isolation regions are the drift region (1) and the channel region (6); each isolation region extends from the source electrode (8) to a drain electrode (11); high-dielectric constant material strips (3) and first insulation dielectric layers (10) form boundaries of the bottoms and sidewalls of the isolation regions; the isolation regions are filled with a first filling material (2), a second insulation dielectric layer (9) is arranged on the upper surface of the drift region (1) and the upper surfaces of the isolation regions, and a gate electrode (5) directly contacts the first filling material (2) via holes on the second insulation dielectric layer (9); and a source electrode lead-out wire (16) and a drain electrode lead-out wire (12) directly contact the source electrode (8) and the drain electrode (11) respectively via the holes on the second insulation dielectric layer (9). The area of a power device can be greatly reduced on the premise of not reducing the withstand voltage and not increasing the specific ON-resistance.