The invention relates to a manufacturing method for superlow shrinkage type PET industrial yarn, which is characterized in that the superlow shrinkage type PET industrial yarn is manufactured through selecting and controlling cooling conditions, and the technological process is as follows: hyperviscous melting to polyester raw materials, metering, spanning, cooling, oil supplying, stretching, hot shaping, and reeled forming. For lowing the irregularity and shrinkage percentage of fiber, a slow cooling device is arranged in the production of industrial yarn, a precooling device adopted is a hollow stepped ring-shaped belt comprising an upper part and a lower part, through holes with the diameters of 5 to 7 mm are uniformly distributed in the upper part of the ring-shaped belt, through holes with the diameters of 3 to 4 mm are uniformly distributed in the lower part, and the hole arrangement densities are the same. The natural target of the PET industrial yarn is as follows: the fracture strength is equal or greater than 7.0 cN/dtex, the breaking elongation is 20.0 plus or minus 1.5 percent, and the dry heat shrinkage percentage under the test conditions of 170 DEGC, 0.05cN/dtex reaches 1.9 plus or minus 0.25 percent.