The present invention discloses a multi-layer inflatable toy and a manufacturing method thereof. The toy comprises a liner, an intermediate layer and a surface covering; the liner is filled with air, and the intermediate layer is arranged between the liner and the surface covering; the liner is made of rubber material, and the intermediate layer and the surface covering are made of flexible material or elastic material; and the intermediate layer may be of a single-layer or multi-layer structure. In the present invention, a pet toy of a multi-layer structure is manufactured by using a liner inflating process, so that the product is light and can float on water, thus the problem that the toy cannot be retrieved or used continuously after falling into water is avoided, and the harm to people and objects by throwing is avoided.
