A recuperator manufacturing method and a recuperator produced by the same are provided to cast the complicated recuperator at high precision without forming parting lines on the surface and to improve production efficiency by executing continuous casting. The recuperator manufacturing method comprises the steps of: forming an inner core and an outer mold frame by processing metal correspondently to the shape of a cylindrical recuperator having plural fins on the inner peripheral surface(S1); injecting wax after assembling the inner core and the outer mold frame(S2); forming a tree by sticking plural waxes to a sprue(S3); forming a mold by coating the outside of the tree with ceramic refractory materials and then drying the tree(S4); melting and removing the wax by heating the mold by hot steam(S5); removing the remaining materials by heating the mold at high temperature(S6); injecting melt into the mold(S7); removing the coating material applied on the outside of the mold(S8); cutting plural castings stuck on the tree(S9); thermally treating the casting(S10); smoothly processing the outside of the casting and checking defects(S11); connecting the castings produced correspondently to each part by welding(S12); and examining the finished recuperator(S13).