The invention discloses an epitaxial wafer of a light emitting diode and a manufacturing method thereof, belonging to the technical field of semiconductors. A quantum well layer of the epitaxial waferof the light emitting diode is a BInGaN layer; a quantum barrier layer includes a first sub-layer, a second sub-layer, and a third sub-layer sequentially stacked on the quantum well layer; the firstsub-layer and the third sub-layer are both GaN layers; and the second sub-layer is a BAlGaN layer. By adjusting the molar ratio of B to In in the BInGaN well layer, better lattice matching between theBInGaN material and the GaN material can be achieved; therefore, the compressive stress between the quantum well layer and the quantum barrier layer can be alleviated, the piezoelectric polarizationeffect generated in the quantum well layer can be reduced, the overlap of the wave functions of electrons and holes in spatial distribution can be increased, and the luminous efficiency of the LED canbe improved. Meanwhile, a heterojunction interface is formed between the GaN layer and the BAlGaN layer of the quantum barrier layer, which can improve the luminous efficiency of radiant composite luminescence performed by the electrons and holes in a multiple quantum well layer.