The invention discloses a double-wall corrugated pipe modified by waste HDPE (high-density polyethylene) and a manufacturing process of the double-wall corrugated pipe. The double-wall corrugated pipe comprises an inner layer and an outer layer, wherein the inner layer is prepared from 100 parts of HDPE regenerated crumbles, 20-30 parts of LLDPE (linear high-density polyethylene) raw material, 80-110 parts of enhanced functional talcum powder, 4-5 parts of carbon black, 10-11 parts of defoaming agent, 4.5-9 parts of silane coupling agent, 0.45-0.7 parts of maleic anhydride grafted polymer and 2-3 parts of antioxidant; the outer layer is prepared from 100 parts of HDPE regenerated crumbles, 18-19 parts of HDPE raw material, 45-70 parts of LLDPE regenerated blow molded material, 110-130 parts of enhanced function talcum powder, 9-15 parts of ethylate-vinyl acetate copolymer, 5-6 parts of carbon black, 10-11 parts of defoaming agent, 5-9 parts of silane coupling agent, 0.5-0.7 part of maleic anhydride grafted polymer and 1.5-2 parts of antioxidant. The corresponding manufacturing method comprises the following step: mixing and granulating according to certain sequence by controlling temperature condition to manufacture a special inner layer material and a special outer layer material of the HDPE double-wall corrugated pipe. According to the manufacturing process, materials for producing the corrugated pipe are conveniently taken and can be put into production without adding other additives. The obtained double-wall corrugated pipe integrates hardness and softness, the annular flexibility is improved, the using performance is promoted, and the manufacturing cost is also reduced by using the waste HDPE.