The invention discloses an exhaust bag and a manufacture method and application thereof. The exhaust bag comprises a bag body and at least one retaining valve, wherein a holding space is formed by the bag body and is used for storing objects, the bag body is provided with at least one opening and at least one exhaust hole, the objects are placed in the holding space through the openings and then the openings are sealed, the retaining valves are arranged in the bag body and are adjacent to the exhaust holes so that the holding space is communicated with the exhaust holes, air in the holding space arrives at the exhaust holes through the retaining valves and is exhausted from the bag body from the exhaust holes; and because of a one-way retaining function of the retaining valves, outwards discharged air is returned to the holding space from the retaining valves, and therefore, the packaging volume of the whole exhaust bag after the objects are stored in the holding space is greatly reduced, and the exhaust bag is conveniently stored and transported.