The invention discloses a manufacturing method of a seamless steel pipe. The manufacturing method comprises the following steps of making steel: feeding a SiCaBa alloy core wire after slagging molten steel in a steel ladle, and expanding slag to form foamed slag; adjusting the amount, the alkalinity and the fluidity of the slag according to slag conditions, and adding SiC powder, silicon calcium (barium), silicon iron and calcium carbide so as to reduce refined slag to form white slag; adding 0.13-0.20% of carbon, 0.25-0.50% of silicon, 0.9-1.3% of manganese, less than or equal to 0.030% of phosphorus, less than or equal to 0.030% of sulphur, 0.03-0.10% of vanadium, 0.015-0.040% of aluminium, less than or equal to 0.20% of chromium, less than or equal to 0.10% of nickel, less than or equal to 0.10% of molybdenum, less than or equal to 0.10% of titanium, and less than or equal to 0.20% of copper; pouring out a part of the refined slag, and retaining a slag layer, the molten steel surface layer of which is less than or equal to 100 mm; stirring in vacuum; feeding an aluminium wire with the diameter of 12 mm after breaking vacuum; feeding a pure calcium wire for modifying inclusions; blowing by using argon so that the molten steel is uniform; continuously casting; rolling; thermally treating; straightening; and detecting flaws. The seamless steel pipe prepared by the invention has high strength, high toughness, low carbon equivalent and good welding property, and therefore, the use reliability and the safety are increased.