The invention relates to coconut milk ice cream, which comprises the following components: 30-35% of vegetable cream, 10-12% of milk powder, 8-10% of white sugar, 5-7% of coconut powder, 0.2-0.3% of sucrose fatty acid ester, 0.1-0.2% of xanthan gum, 0.1-0.15% of coconut milk essence and the balance of water. A manufacturing method of the coconut milk ice cream comprises the following steps of: uniformly mixing the white sugar, the sucrose fatty acid ester and the xanthan gum; during mixing, slowly adding the mixture into the water at the temperature of 30-35 DEG C, and adding the milk powder and the coconut powder after the mixture is dissolved; dissolving and uniformly mixing, heating to the temperature of 80+/-2 DEG C, keeping the temperature for 15min, cooling to the room temperature, then adding the coconut milk essence, and uniformly mixing; and whipping the vegetable cream until the volume is increased by 3.0-3.5 times at the temperature of 10-15 DEG C, during slowly mixing, slowly adding the mixture into the whipped vegetable cream, uniformly mixing, standing at the temperature of minus 18-minus 22 DEG C, and refrigerating for over 12h, so as to obtain the coconut milk ice cream. The invention is especially suitable for cake shops, bakeries and other baking shops.