The invention relates to a metal powder-cored type nitrogen austenite stainless steel flux-cored wire and a method for manufacturing the same. The metal powder-cored type nitrogen austenite stainless steel flux-cored wire comprise a carbon steel cored shell and powder filled in the shell, and is characterized in that the powder comprises, by weight, from 35% to 45% of metal chromium, from 15% to 25% of nickel powder, from 3% to 6% of ferrochromium nitride, from 10% to 15% of silicon-magnesium alloy, from 2% to 8% of molybdenum powder, from 0.5% to 2.5% of ferrotitanium powder, from 0.5% to 1% of potassium carbonate arc stabilizers, from 0.5% to 1% of aluminum-magnesium powder, from 0.5% to 1% of bismuth oxide, from 0.3% to 0.5% of sodium oxide, from 0.01% to 0.1% of rare-earth cerium and from 1% to 10% of iron powder, and the weight of the powder ranges from 40% to 50% of the total weight of the wire. Compared with the prior art, the metal powder-cored type nitrogen austenite stainless steel flux-cored wire has the advantages that weld metal has excellent mechanical properties such as good toughness and high strength after the wire is applied to welding high-nitrogen steel, and a corrosion resistant effect is good.