The invention relates to high-toughness and hydrogen sulfide corrosion resistant round steel and a manufacturing method thereof. The round steel comprises, by mass, 0.25-0.40% of C, 0.20-0.45% of Si, 0.95-1.50% of Mn, 1.35-1.90% of Cr, less than or equal to 0.002% of S, less than or equal to 0.008% of P, 0.75-1.30% of Mo, 0.10-0.30% of Ni, 0.05-0.25% of V, 0.010-0.050% of Nb, 0.10-0.30% of Cu, less than or equal to 0.050% of Al, 0.0005-0.005% of Ca, and the balance Fe and unavoidable impurity elements. The hot-rolled round steel is produced through a process route of continuous casting-continuous rolling-annealing, the round steel is subjected to heat treatment directly, or a machined semi-finished drill tool is subjected to heat treatment. On the premise that related 130KSI and 135KSI synthesized mechanical properties are met correspondingly, according to an America NACE TM0177 standard hydrogen-sulfide-resistant stress corrosion test, a product is not broken for 720 hours under the condition that 70% of nominal yield stress is pre-loaded in a saturated H2S solution. The material is suitable for 130KSI-strength-grade and 135KSI-strength-grade drill tools under the mining environment of acidic oil and gas fields.