The invention provides a chip resistor. The chip resistor comprises a resistor sheet, an inner shell which wraps the surface of the resistor sheet, a heat sink bonded to the surface of the resistor sheet through an insulating thermal conductive adhesive, an outer shell at the outermost layer and electrode pins connected with the two ends of the resistor sheet and located outside the outer shell, and the inner shell is provided with a hollowed-out part for coating the insulating thermal conductive adhesive. A manufacturing method of the chip resistor includes the steps of blanking the resistorsheet and the electrode pins, then processing and connecting the resistor sheet and the electrode pins to form a resistor body, conducting rough adjustment and fine adjustment on a resistance value ofthe resistor body, packaging for the first time to form the inner shell, blanking the heat sink, bonding the heat sink to the resistor sheet through the insulating thermal conductive adhesive, packaging for the second time, cutting and bending the electrode pins to form a side U shape, and finally conducting post-processing to obtain the chip resistor. According to the chip resistor, after roughadjustment and fine adjustment are conducted on the resistance value of the resistor body, packaging is conducted for the first time, a layer of inner shell wraps the resistor body to ensure that theheat sink is not contact with the resistor sheet, and the obtained chip resistor has high precision, fast heat dissipation, long service life, safety and reliability, and high product yield.