The invention relates to a microalloyed high-aluminum high-ductility steel plate and a manufacturing method thereof, and belongs to the field of alloy steel. The steel plate comprises the chemical components, by mass, including 0.8%-1.0% of C, 28%-30% of Mn, 8.0%-10% of Al, 0.02%-0.10% of Nb, 0.02%-0.10% of V, 0.02%-0.10% of Ti, 0.02%-0.08% of N, 0-0.003% of P, 0-0.003% of S and the balance Fe and inevitable impurities. The manufacturing method comprises the steps that firstly, raw materials are prepared according to the chemical components, then a plate billet is forged after smelting and casting, the plate billet is heated, homogenized and subjected to multi-pass hot rolling deformation with the accumulative deformation rate being 85%-90%, water cooling after rolling is conducted, and then the plate billet is air-cooled to the room temperature; secondly, the hot-rolled steel plate is subjected to solution treatment, fast heated to a solution treatment temperature for heat preservation for a period of time, and then water-quenched to the room temperature; thirdly, the steel plate subjected to the solution treatment is pickled, cold-rolled and subjected to multi-pass rolling deformation with the accumulative compression amount being 65%-80%; and fourthly, the cold-rolled steel plate is subjected to final annealing treatment, and then water-quenched to the room temperature, so that the microalloyed high-aluminum high-ductility steel plate is obtained. According to the steel plate manufactured through the manufacturing method, the strength and ductility product can reach 50 GPa*%, and the impact and collision resistance of the material is obviously improved.