The invention relates to a wire rod for a pipeline steel gas shield welding wire and a manufacturing method of the wire rod, the wire rod comprises the following elemental components in percentage by mass: 0.06-0.09% of C, 0.55-0.80% of Si, 1.45-1.60% of Mn, 0.008-0.015% of S, 0.85-0.95% of Ni, 0.060-0.085% of Ti, 30-70ppm of O and the balance of Fe and inevitable impurity elements, and the impurity elements comprise less than or equal to 0.003% of P, less than or equal to 0.002% of Sb, less than or equal to 0.002% of Sn and less than or equal to 0.003% of As. The microstructure of the wire rod is ferrite and pearlite, TiO2 inclusions distributed in a dispersed mode exist in the microstructure, the size of the TiO2 inclusions is stably smaller than 5 micrometers, and the number of the inclusions in unit area is stably larger than 35/mm < 2 >. The tensile strength of the wire rod is stable to be smaller than or equal to 700 MPa, the area reduction is larger than or equal to 65%, good plasticity is achieved, and direct drawing operation with the area reduction rate reaching 95% or above can be carried out. The manufacturing method comprises the steps of molten iron pretreatment, molten steel primary smelting, LF refining, square billet continuous casting, square billet heating and rolling and wire rod cooling.