A manufacturing method of a thin film transistor substrate and the thin film transistor substrate manufactured by using the manufacturing method are provided. The manufacturing method includes: providing a substrate layer, forming a gate electrode layer on the substrate layer, forming an insulating layer on the substrate layer and the gate electrode layer by using a first solution, forming a channel layer on the insulating layer by using a second solution, and forming a source/drain electrode layer on the insulating layer. The insulating layer and the channel layer are formed by processes using solution, so high vacuum equipment is not required, and production costs are reduced.