The invention belongs to the field of steel wire production processes, and relates to a prestressed steel wire with a small relaxation rate and a manufacturing method of the prestressed steel wire. The prestressed steel wire is prepared from the chemical components in percentage by mass: 0.80-0.85% of C, 0.10-0.30% of Si, 0.60-0.90% of Mn, less than or equal to 0.025% of P, less than or equal to 0.025% of S, less than or equal to 0.10% of Ni, less than or equal to 0.35% of Cr, less than or equal to 0.2% of Cu, and less than or equal to 0.15% of V. The manufacturing method comprises the following steps: wire rod acceptance check, acid pickling and phosphorization, examining, drawing, semi-finished product examining and testing, stabilizing treatment, wire collection, and finished product examining and testing. By formulating the reasonable semi-finished product size, drawing process and stabilizing treatment process and meanwhile finding the appropriate stabilizing treatment temperature, the relaxation value of 1000 hours of the phi 7.50 mm prestressed steel wire reaches to be the optimum, it is examined that the relaxation rate is 0.93%, and thus the requirement that the relaxationrate is smaller than or equal to 2.5% is met.