The invention provides steel for a pumping rod resisting casinghead gas corrosion and a manufacture method thereof. The steel comprises the following chemical compositions by mass percentage: 0.05 to 0.25 percent of carbon, 0.50 to 2.00 percent of silicon, 1.10 to 2.50 percent of manganese, 0.02 to 0.50 percent of molybdenum, 0.02 to 0.50 percent of nickel, 0.50 to 1.50 percent of chromium, 0.01 to 0.10 percent of vanadium, 0.005 to 0.050 percent of aluminum, 0.02 to 0.10 percent of niobium, 0.05 to 0.50 percent of copper, 0.01 to 0.10 percent of titanium, less than or equal to 0.015 percent of sulphur, less than or equal to 0.020 percent of phosphorus, and the balance being ferrum. The method is to manufacture a pumping rod wire through a design of adding the niobium and other trace alloy elements and corresponding compositions into steel, and controlled rolling and controlled cooling organization control technology. The pumping rod manufactured by the wire has excellent oilwell medium corrosion resistance, proper strength, excellent plastic tenacity and excellent welding performance, thereby improving the service life and reliability of the pumping rod, and improving the whole stability of pumping equipment, and further solving the problem that the prior pumping rod has repeated stress failure caused by endurance of complex casinghead gas corrosion.