The invention provides a double-junction GaAs lamination laser photovoltaic cell which comprises a GaAs substrate, and an N-type GaAs conducting layer, a first tunnel junction, a P-type AlGaAs ((Al)GaInP) first barrier layer, a bottom battery, a second tunnel junction, a P-type AlGaAs ((Al)GaInP) second barrier layer, a top battery, an AlGaAs (Ga0.51In0.49P) window layer and a GaAs contact layer that are grown on the substrate sequentially, and further comprises an isolation trench, wherein the isolation trench penetrates through the GaAs contact layer till being exposed out of the substrate; and silicon oxide or polyimide glue is filled in the isolation trench. The invention further provides a fabrication method of the double-junction GaAs lamination laser photovoltaic cell, which comprises the steps of (1) providing a substrate, (2) allowing the conducting layer, the first tunnel junction, the first barrier layer, the bottom battery, the second tunnel junction, the second barrier layer, the top battery, the window layer and the GaAs contact layer to be grown on the substrate sequentially, (3) etching the GaAs contact layer till the surface of the substrate is exposed by a dry etching method or a wet etching method, to form the isolation trench, and (4) filling the isolation trench with the silicon oxide or polyimide glue.