The invention relates to a ferritic stainless steel which comprises the following chemical components in percent by weight: 0.001-0.025% of C, less than1.0% of Si, less than 1.0% of Mn, less than 0.03% of P, less than 0.010% of S, 17-20% of Cr, 1.70-2.00% of Mo, less than 0.02% of Al, 0.005-0.025% of N, less than 0.0100% of O, less than 0.2% of Nb, 0.10-0.15% of V, less than 0.5% of Ni and the balance of Fe and inevitable impurities. A method for manufacturing the ferritic stainless steel comprises the following steps: smelting by using a vacuum induction furnace, or by using an electric arc furnace through external refining or by using a converter through external refining; continuously casting, wherein the degree of superheat is controlled at 30-50 DEG C, and the slab pulling speed is controlled at 0.8-2m/min; pouring at 1,580-1,600 DEG C; heating the continuously-cast billet to 1,050-1,100 DEG C, and hot rolling, wherein the finish rolling temperature is 800-900 DEG C, and the hot rolling reduction is more that 90%; cooling in air; continuously annealing the hot-rolled strip steel, and pickling, wherein the annealing temperature is 950-1,050 DEG C, the temperature is preserved for 1-1.5t min, and the t represents the thickness (mm) of the strip steel. The ferritic stainless steel has excellent impact toughness, corrosion resistance and mechanical properties.