Disclosed are a probe sheet with a multi-layer contact tip and a method of manufacturing the same capable of improving the design freedom of a contact tip formed on a probe sheet of a probe card for testing a semiconductor device to come in contact with a pad of the semiconductor device. According to the present invention, the design freedom of a contact tip formed on a probe sheet of a probe card for testing a semiconductor device to come in contact with a pad of the semiconductor device can be improved, and since the shape of a contact surface of a contact tip is maintained the same and contact resistance is maintained in an allowable range even when a protective layer coated on the contact tip to increase durability of the contact tip is worn, test reliability of the probe card can be improved.