The invention discloses a photovoltaic cable and a manufacturing method and application thereof. The photovoltaic cable comprises an insulating layer and a jacket layer; the insulating layer comprises the following components: EVA (ethylene-vinyl acetate copolymer), LLDPE (linear low density polyethylene), EMA (ethylene-methyl acrylate), EVA-g-MAH (ethylene-vinyl acetate copolymer grafted maleic anhydride), magnesium hydrate, organic montmorillonoid, a cross-linked sensitizing agent, a lubricating agent, an antioxidant, a light stabilizer and a copper resisting agent; and the jacket comprisesthe following components: EVA, LLDPE, EMA, EVA-g-MAH, color masterbatch, magnesium hydrate, a phosphor series fire retardant, melamine chlorinated isocyanurates, zinc borate, a cross-linked sensitizing agent, a lubricating agent, an antioxidant, a light stabilizer and a copper resisting agent. According to the invention, the photovoltaic cable is manufactured by extruding insulating layer aggregates and jacket layer aggregates on a cable double-layer co-extrusion machine, wrapping the aggregates on the outer surface of a conductor in sequence and carrying out forming, air cooling, coiling andirradiation. The manufacturing method disclosed by the invention has the advantages of good machining property, favorable machining property and low cost and is suitable for industrial production; and the manufactured photovoltaic cable is environment-friendly and has excellent mechanical property, flame radiation resistance performance, thermal ageing property and weather fastness.