The invention belongs to the field of alloy wire manufacturing, and particularly discloses a silver-copper alloy wire for a patch fuse wire and a manufacturing method of the silver-copper alloy wire.The silver-copper alloy wire comprises elements of silver, indium, cerium, cobalt, palladium and copper; and the alloy wire with the elements has the advantages of being low in cost, stable in resistance value, high in tensile strength, small in change of resistance value along the temperature and the like. The manufacturing method comprises the following steps that firstly, the copper, the silver, the indium, the cerium and the cobalt are prepared according to the ratio, and smelting and processing are carried out to obtain a silver-copper alloy rod; then large-deformation processing is carried out on the prepared silver-copper alloy rod so as to prepare a silver-copper alloy crude wire; and finally, wire drawing is carried out on the prepared silver-copper alloy crude wire to prepare a finished product of the silver-copper alloy wire. According to the silver-copper alloy wire and the manufacturing method, the stability of the alloy component is ensured, and the defects of segregation, looseness, air holes and the like generated in the traditional pouring mode are avoided. The large-deformation processing enables grains in the alloy to be elongated, crushed and refined, so that the alloy components are uniformly dispersed, the resistance value of the patch fuse wire silver-copper alloy is more stable, and meanwhile, the strength is further improved.