The invention relates to a low-alloy high-toughness wear resistant steel plate and a manufacturing method thereof. The steel plate contains the following chemical components (wt%): C: 0.08-0.20%, Si: 0.10-0.60%, Mn: 1.00-2.00%, B: 0.0005-0.0040%, Cr<=1.50%, Mo<=0.80%, Ni<=1.50%, Nb<=0.080%, V<=0.080%, Ti<=0.060%, Al: 0.010-0.080%, Ca: 0.0010-0.0080%, N<=0.0080%, O<=0.0080%, H<=0.0004%, P<=0.0015% and S<=0.010%, wherein the following relationships are satisfied: 0.20%<=(Cr/5+Mn/6+50 B)<=0.55%, 0.02%<=(Mo/3+Ni/5+2Nb)<=0.45%, and 0.01%<=(Al+Ti)<=0.13%; and the balance of Fe and inevitable impurities. The contents of both carbon and alloy elements are reduced, the characteristics of refining, strengthening and the like of micro-alloy elements such as Nb and Ti are fully utilized, and a TMCP (thermal mechanical control processing) technology is adopted, so that the wear resistant steel plate is high in hardness, good in toughness, easy to weld, perfect in wear resistance, and applicable to easily-worn components in various types of mechanical equipment.