The invention provides strain design based economical pipe line steel and its manufacturing method. The steel comprises the following ingredients of: by weight, 0.06-0.10% of C, 0.1-0.6% of Si, 1.0-2.0% of Mn, P being less than or equal to 0.015%, S being less than or equal to 0.003%, 0.1-0.3% of Cr, 0.01-0.10% of Nb, 0.005-0.03% of Ti, 0.01-0.06% of Al, N being less than or equal to 0.012%, 0-0.5% of Cu, 0-0.5% of Ni and the balance being Fe. The method provided by the invention comprises steps of smelting, secondary refining, casting and hot rolling, and is characterized in that slab heating temperature is 1050-1280 DEG C; controlled rolling temperature in a recrystallization zone is 900-1250 DEG C; controlled rolling temperature in a non-recrystallization zone is 750-950 DEG C; initial cooling temperature is 680-800 DEG C; finish cooling temperature is 100-500 DEG C; and cooling rate is 5-35 DEG C/s. According to the invention, elements of Mo, V, B and the like are not added, and the total amount of Cu, Cr and Ni is low. In addition, subsequent heat treatment is not required, the process is simple and requires low cost, and production efficiency is high. The steel plate not only has high strength but also has low yield ratio and high uniform extension features. By the adoption of the steel, safety of pipeline operation and economy of pipeline construction can be greatly raised.