The invention relates to equipment and process for manufacturing a flexible circuit board in the technical field of manufacturing of an electronic circuit board. The equipment comprises an elongate framework type machine body, wherein an automatic operating platform is arranged at a top part of the framework type machine body and comprises a control panel, an automatic feeding part, an automatic lamination part, an automatic rolling cutting part, a splitting mechanism, a traction mechanism and a winding mechanism, the automatic feeding part comprises a bottom membrane feeding mechanism, an elongate conductor feeding mechanism, a combination medium membrane feeding mechanism and a cover membrane feeding mechanism, the automatic lamination part comprises a first lamination mechanism and a second lamination mechanism, and the automatic rolling cutting part comprises an upper rolling cutter mechanism and a lower rolling cutter mechanism. Compared with a traditional punching or etching process, the process employing rolling cutting has the advantages that an irregularly-shaped cross section and a clearance hole can be synchronously cut in a rolling way, the rolling cutting efficiency is high, no stop is needed during the rolling cutting process, assembly line type processing can be directly completed, so that the production working efficiency of a product can be improved, labor investment is greatly reduced, and the qualified rate and the accuracy of a finished product are improved.