The invention belongs to the technical field of cables, and discloses a high-temperature fire-resistant watertight insulating rubber for a cable applied to safe return of a ship to a port, and a manufacturing method of the high-temperature fire-resistant watertight insulating rubber. The rubber comprises the following raw material components in parts by weight: 20 parts of methyl vinyl silicone rubber 110-3-B, 20 parts of EPDM (ethylene propylene diene monomer) Mitsui EPT 4045M, 0.6 to 1 part of bis(tert-butylperoxyisopropyl)benzene (BIPB), 0.2 to 0.3 part of trimethylolpropane trimethacrylate (LS-3-80); 0.4 to 0.6 part of an amine aldehyde compound anti-aging agent XH-3, 0.2 to 0.4 part of 2-mercapto benzimidazole (MBI), 5 to 9 parts of white carbon black having undergone gas-phase-method surface treatment, 4 to 8 parts of low-temperature low-melting-point glass powder with a softening temperature of 400-700 DEG C, 4 to 8 parts of high-temperature low-melting-point glass powder with a softening temperature of 600-1100 DEG C, 0.5 to 1.5 parts of iron sesquioxide, 0.4 to 1 part of diphenylsilanediol and and 0.1 to 0.2 part of SI69-50. The manufacturing method comprises the following steps: firstly, carrying out two-side mixing operation in an open mill, then adding the methyl vinyl silicone rubber 110-3-B and the raw rubber of EPDM Mitsui EPT 4045M, conducting mixing for 2-3 minutes, then sequentially adding other components, carrying out mixing for 7-8 minutes, performing discharging, conducting extruding and granulating on a double-screw granulator, and preforming cooling for separate use.