The invention relates to the technical field of PCBs (Printed Circuit Boards), and discloses a manufacturing method of a PCB with a stepped slot and a PCB. The manufacturing method comprises the stepsof laminating a plurality of core plates to form a PCB, manufacturing an initial stepped slot in a preset area of the PCB in a depth-controlled milling mode, wherein the depth of the initial steppedslot is less than predetermined stepped slot depth; removing a residual resin layer of a non-metallic circuit pattern area at the bottom of the initial stepped slot until a first part of bottom copperis exposed, and removing the first part of bottom copper; and removing the residual resin layer of the left area at the bottom of the initial stepped slot until a second part of bottom copper is exposed, and forming a preset metal circuit pattern. According to the embodiment of the invention, a stepped slot with the bottom being provided with the metal circuit pattern can be manufactured, accurate control can be performed on the depth of the stepped slot in the manufacturing process so as to enable the stepped slot to reach a specified layer, and no gasket is required to be used. Furthermore,the pattern at the bottom of the slot can be manufactured in an efficient and high-quality manner, the cost is low, and the process is simple, so that the manufacturing method is suitable for mass production.