The invention discloses a multielement-enhanced heat-resistant corrosion-resistant magnesium alloy and a manufacturing method of the multielement-enhanced heat-resistant corrosion-resistant magnesium alloy. The ingredients of the multielement-enhanced heat-resistant corrosion-resistant magnesium alloy comprise pure magnesium ingots, pure zinc ingots, Mg-Gd alloy, Mg-Y alloy, Mg-Nd alloy, Mg-Ca alloy, Mg-Zr alloy and nanometer-scale NdN particles. The elements in the raw materials comprise, by mass, 3.5-5.0% of Gd, 1.0%-3.0% of Y, 0.5%-0.8% of Nd, 0.8%-1.5% of Zn, 0.3%-0.8% of Ca, 0.3%-0.6% of Zr, 0.5%-1.5% of nanometer-scale NdN particles and the balance Mg. The sequence of the mass percentage contents of the three rare earth elements of the Gd, the Y and the Nd from large to small is Gd>Y>Nd, and the mass percentage of the total addition amount of the three rare earth elements of the Gd, the Y and the Nd does not exceed 10%. The particle size of the nanometer-scale NdN particles is 80-150 nm. The steps of pretreatment and cladding of the NdN particles, preheating of the ingredients, smelting, refining, doping, pouring, sectioned solution treatment and artificial aging treatment are sequentially conducted, and then the fine, dispersive nanometer-precipitated-phase microscopic-structure heat-resistant corrosion-resistant magnesium alloy product is obtained. By the adoption of the multielement-enhanced heat-resistant corrosion-resistant magnesium alloy and the manufacturing method of the multielement-enhanced heat-resistant corrosion-resistant magnesium alloy, the manufacturing cost is low, and the heat resistance and corrosion resistance of the magnesium alloy are excellent.