The invention relates to a method for manufacturing pipe steel. The pipe steel comprises the following components in percentage by weight: 0.02-0.12 percent of C, 0.10-0.35 percent of Si, 1.40-2.00 percent of Mn, no more than 0.015 percent of P, no more than 0. 005 percent of S, 0.021-0.05 percent of Ti, 0.05-0.40 percent of Cr, 0.05-0.30 percent of Mo, 0.10-0.30 percent of Cu, 0.10-0.24 percent of Ni, no more than 0. 008 percent of N, 0.02-0.07 percent of Nb, 0.01-0.08 percent of V and the balance of Fe and inevitable impurities. The method comprises the steps of smelting, external refining, casting, slab reheating, controlled rolling, controlled cooling, quenching and tempering in a converter or an electric furnace. The reheating temperature of the slab is 1100-1250 DEG C. The controlled rolling comprises a recrystallization zone rolling step and a non-recrystallization zone rolling step. The quenching and tempering comprises a quenching step and a tempering step. The pipe steel has the characteristics of high strength, excellent low temperature impact toughness and excellent weldability, and can be used for constructing long-distance petroleum and natural gas transmission pipelines, slurry transmission pipeline, city pipeline networks and the like.