The invention discloses a light emitting diode epitaxial wafer and a manufacturing method of the light emitting diode epitaxial wafer, and belongs to the technical field of semiconductors. The epitaxial wafer comprises a substrate, a nucleating layer, a buffer layer, an undoped GaN layer, an n-type layer, a multiple-quantum-well layer, a first p-type GaN layer, a second p-type GaN layer, an electron barrier layer and a p-type layer, wherein the nucleating layer, the buffer layer, the undoped GaN layer, the n-type layer, the multiple-quantum-well layer, the first p-type GaN layer, the second p-type GaN layer, the electron barrier layer and the p-type layer grow upwards on the substrate. The thickness of the electron barrier layer ranges from 50 nm to 150 nm, the growth temperature of the first p-type GaN layer ranges from 600 DEG C to 800 DEG C, the growth pressure of the first p-type GaN layer ranges from 400 Torr to 800 Torr, the growth temperature of the second p-type GaN layer ranges from 800 DEG C to 1000 DEG C, the growth pressure of the second p-type GaN layer ranges from 50 Torr to 500 Torr. The first p-type GaN layer growing under high pressure and low temperature is arranged, and a hole injection channel is provided, so that hole injection efficiency is improved; through the second p-type GaN layer growing under low pressure and high temperature, crystalline quality is improved, the thickness of the electron barrier layer is limited, and hole injection efficiency is improved.