The invention discloses a silicate-modified PVC foamed composite decorative sheet and a manufacturing method thereof. The manufacturing method is mainly used for manufacturing a decorative sheet used in occasions such as a family, an office, a shopping mall and a meeting, and belongs to the technical field of composite materials. The silicate-modified PVC foamed composite decorative sheet mainly comprises three layers, namely a decorative layer, a foaming layer and a supporting layer, wherein the supporting layer is mainly prepared from silicate inorganic filler, polyvinyl chloride and a processing aid; the foaming layer is mainly prepared from silicate inorganic filler, polyvinyl chloride, a foaming agent and a processing aid; the decorative layer is mainly prepared from silicate inorganic filler, polyvinyl chloride, a color masterbatch and a processing aid. The decorative sheet has the advantages of being free of toxicity and odor as well as formaldehyde, being capable of preventing water, dampness, worm damage, light mass and high surface decoration property, being nailable, sawable and planeable, being capable of reducing the consumption of wood and macromolecular polymers, and being relatively high in strength and relatively long in service life.