Provided is an iron-based amorphous alloy and a method of manufacturing the same.More particularly, provided is an high carbon iron-based amorphous alloy expressed by a general formula FeαCβSiγBxPyCrz, wherein α, β, γ, x, y and z are atomic % of iron (Fe), carbon (C), silicon (Si), boron (B), phosphorus (P), and chrome (Cr) respectively, wherein α is expressed by α=100−(β+γ+x+y+z) atomic %, β is expressed by 13.5 atomic %≦β≦17.8 atomic %, γ is expressed by 0.30 atomic %≦γ≦1.50 atomic %, x is expressed by 0.1 atomic %≦x≦4.0 atomic %, y is expressed by 0.8 atomic %≦y≦7.7 atomic %, and z is expressed by 0.1 atomic %≦z≦3.0 atomic %.