The invention provides a manufacturing method of a three-dimensional memory and the three-dimensional memory, in the manufacturing method of the three-dimensional memory provided by the invention, after an additional pseudo gate covering layer is deposited on a step structure, only the pseudo gate covering layer on the side wall of the step is removed, and the residual pseudo gate covering layer on a semiconductor layer is not removed, instead, the dielectric layer is directly formed on the residual dummy gate covering layer and is etched and filled to form the metal plug, so that the etchingprocess is simplified, the mask is saved, the production efficiency is improved, and the production cost is reduced; meanwhile, when the contact hole is formed by etching, the etching which originallypasses through the contact hole of the semiconductor layer is changed to stay on the dummy gate covering layer, so that a corresponding etching window is reduced, and the design flexibility of the three-dimensional memory is enhanced.