The invention discloses a wafer-level fan-out PoP encapsulation structure and a making method thereof. The wafer-level fan-out PoP encapsulation structure is formed by stacking at least one fan-out PoP encapsulation units, each two adjacent fan-out PoP encapsulation units are connected through a second welding ball and coated and sealed by adopting a second plastic sealing material, each fan-out PoP encapsulation unit comprises an IC chip, a first plastic sealing material, a second binding material, a metal salient point structure, a first metal layer, a second metal layer, a first rewiring metal routing layer, a first dielectric material layer, a second rewiring metal routing layer, a second dielectric material layer, a first welding ball and the second welding ball, a bonding pad of each IC chip is connected with the corresponding first rewiring metal routing layer, each metal salient point structure forms a molded plastic through hole, and three-dimensional integrated interconnection between an upper encapsulating body as well as a lower encapsulating body in each fan-out PoP encapsulation unit and an external structure is realized through the corresponding molded plastic through hole. The making method mainly includes arranging a metal substrate wafer on a first carrier wafer; making the metal salient point structure on the surface of the metal substrate wafer; feeding the chip; plastically sealing, making the first rewiring metal routing layer; arranging a second carrier wafer, removing the first carrier wafer, etching the lower surface of the metal substrate wafer to form the second rewiring metal routing layer; performing stacking and reflow soldering; removing the second carrier wafer; forming the fan-out PoP encapsulation unit after ball placing and reflow soldering processes; performing stacking and reflow soldering on the fan-out PoP encapsulation units; and forming the wafer-level fan-out PoP encapsulation structure after plastic sealing. By the wafer-level fan-out PoP encapsulation structure and the making method, the problems of encapsulating density, cost and reliability of existing PoP encapsulation technology are solved.