The invention relates to a low-cost high-strength porous sound absorption material and a process for manufacturing the same. The low-cost high-strength porous sound absorption material comprises, by weight, 35-40% of steel slag, 25-30% of red mud, 15-20% of cement clinker, 3-5% of expansive agents, 3-5% of hydrogen peroxide which is a foaming agent, 1-3% of desulfurization gypsum, 2-4% of calciumcarbonate and 1-3% of glass fibers. The process includes (1), acquiring raw materials for standby application; (2), coarsely crushing the steel slag, the calcium carbonate and the desulfurization gypsum and carrying out wet grinding on the steel slag, the calcium carbonate and the desulfurization gypsum; (3), adding water into the steel slag, the calcium carbonate and the desulfurization gypsum, stirring the water, the steel slag, the calcium carbonate and the desulfurization gypsum, adding the foaming agent into the water, the steel slag, the calcium carbonate and the desulfurization gypsum to obtain first mixtures, injecting the first mixtures into cement molds and curing, drying and crushing the first mixtures; (4), adding water into the first mixtures, stirring the water and the mixtures to obtain slurry, injecting the slurry into molds, carrying out compression molding on the slurry, curing samples released from the molds in cement standard curing tanks under standard curing conditions and ultimately drying the samples to obtain the low-cost high-strength porous sound absorption material which is a finished product. The low-cost high-strength porous sound absorption material and the process have the advantages that the low-cost high-strength porous sound absorption material is mainly made of the red mud and the steel slag which are metallurgical industrial waste residues,the calcium carbonate and the gypsum are used as reinforcing agents, accordingly, the low-cost high-strength porous sound absorption material can be used as a sound absorption barrier for tunnels, subways and roads, and the problem of noise pollution of indoor places and the like can be solved.