The invention relates to a rare earth element doped aluminum alloy conductor of a circuit cable and a manufacturing method. Cu and Fe are doped in an aluminum alloy conductor, so that the thermal stability and the mechanical strength of the conductor are greatly improved; Ag is doped, so that the electrical property of the conductor is improved; the doping of rare earth elements is carried out, sothat the mechanical property of the conductor cannot be greatly lost under the doping condition, and the performance is ensured. In addition, the secondary hot rolling is carried out during the manufacturing of the conductor, so that the mechanical property of the conductor is stronger, the brittleness is reduced, tiny defects are repaired, and the conductor is not liable to break; the conductoris made into an aluminum ring with the oval cross section before secondary hot rolling, so that the conductor can ensure the transportation performance, the secondary hot rolling can be conveniently carried out, and the deformation amount is small. The conductor is firstly subjected to mutual twisting forming, so the forming shape stability can be guaranteed and the forming effect can be conveniently monitored; drawing is conducted after mutual twisting, so the shape stability of the wires after drawing can be improved.