The invention relates to a circuit board substrate, which comprises a first metal layer, a first adhesive layer, a first epoxy resin composite material layer, an insulation base material layer, a second epoxy resin composite material layer, a second adhesive layer and a second metal layer which are sequentially stacked, wherein the epoxy resin composite material layers consist of epoxy resin composite material, the epoxy resin composite material comprises carboxyl end group polymer modified epoxy resin, a carbon nano tube and inorganic dispersed material, and the mass percentage of the carbon nano tube in the epoxy resin composite material is 4.6-16%. The invention also provides a manufacturing method of the circuit board substrate.