The invention discloses an IGBT with reverse freewheeling capacity. The IGBT comprises a front MOS structure, an N-type drift region and a back collecting electrode structure. The back collecting electrode structure comprises an N+ buffer layer, P+ injection layer and a back metal layer. The pattern structure of the P+ injection layer is defined by grooves formed on the front surface of a semiconductor substrate. The junction depth of the N+ buffer layer is greater than the depth of the grooves. The P+ injection layer is less than the depth of the grooves and arranged on the back surface of the N+ buffer layer of the semiconductor substrate arranged among the grooves. The back metal layer completely fills the grooves and extends to the back surface of the whole semiconductor substrate outside the grooves. The invention also discloses a manufacturing method of the IGBT with the reverse freewheeling capacity. A diode structure with the reverse freewheeling capacity can be formed through integration without back photoetching and photoresist removing technology so that the technology is simple, the yield rate is high and manufacturability can be enhanced.