The invention particularly relates to a medical grinding wheel for grinding insulin needles and a manufacturing method thereof. The medical grinding wheel for grinding the insulin needles is characterized in that raw material components of the medical grinding wheel include, by weight, 60-65% of silicon carbide, 10-18% of micropowder-grade ceramic corundum, 8-12% of modified resin, 5-15% of glass beads, 1-4% of cryolite powder and 1-4% of zinc oxide, and the cryolite powder and the zinc oxide serve as filling agents. Micropowder-grade ceramic corundum abrasive materials can conduct self-sharpening at the nanoscale size during the grinding process, and micro grinding edges are exposed continuously, so that the cutting depth can be increased, and the grinding efficiency can be improved. Poor grinding faces caused by smoothed and blunted abrasive particles can be avoided through the micro grinding edges exposed continuously. During production of the grinding wheel, water pressure pads are adopted in the diameter direction and the thickness direction of the grinding wheel, and the balance performance and structure uniformity of the grinding wheel are improved by 50% more than the specified value of the national standard.