The invention provides a diode chip and a manufacturing method thereof. The chip comprises a plurality of cells which are connected in parallel, each cell comprises an N+ substrate, the back surface of each N+ substrate is provided with a back metal layer, the front surface of each N+ substrate is provided with an N- epitaxial region, and the front surface of each N- epitaxial region is sequentially provided with a gate oxide layer, polycrystalline silicon and a metallization layer; a P-type base region is embedded in the middle of the front face of the N- epitaxial region, a protruding part is arranged on the back face of the metallization layer, the protruding part is embedded into the P-type base region, an N+ region is arranged around the protruding part, a P+ region is arranged between the end face of the protruding part and the P-type base region, and the front faces of the P-type base region and the N+ region are covered with gate oxide layers. Compared with a PN junction structure, the device has the advantages of lower break-over voltage, shorter reverse recovery time and the like; compared with a Schottky diode, the Schottky diode has the advantages of good high-temperature characteristic, small electric leakage, positive temperature coefficient and the like; the conduction pressure drop is small, the energy consumption is low, the heat yield is small, and the durability is high; and a multi-cell parallel structure is adopted, so that the heat dissipation capability is greatly improved.