The invention provides high-performance cold extrusion die steel and metallurgical manufacturing method thereof. The high-performance cold extrusion die steel comprises the following chemical components in percentage by mass: 0.95 to 1.02 percent of C, 0.20 to 0.40 percent of Mn, 8.60 to 9.00 percent of Cr, 0.87 to 1.10 percent of Si, 1.80 to 2.00 percent of Mo, 0.40 to 0.60 percent of V, less than or equal to 0.30 percent of Cu, less than or equal to 0.25 percent of Ni, less than or equal to 0.025 percent of P, less than or equal to 0.010 percent of S, and the balance of Fe and inevitable impurities. According to the component proportion, the toughness performance of the high-performance cold extrusion die steel can be greatly improved. The metallurgical manufacturing method comprises theprocesses of electric furnace steel making, electroslag remelting and steel forging by a radial forging press. In the process of electroslag remelting, the voltage is between 57 and 59V, and the current is between11,000 and 12,000A; and in the process of steel forging by the radial forging press, steel ingots are heated to between 1,150 DEG C and 1,170 DEG C, and the temperature keeps for 2 to 4hours. The method is simple and convenient, and can remarkably improve the performance index of the steel.