The present application discloses a multi-junction tandem laser photovoltaic cell, comprising a photovoltaic cell stack and a bottom electrode and a top electrode electrically connected to a bottom and a top of the photovoltaic cell stack, respectively, wherein the photovoltaic cell stack comprises stacked N AlGaAs PN-junction sub-cells, and adjacent sub-cells are connected in series via a tunneling junction, in which N≥2. The AlGaAs PN-junction sub-cells use an AlGaAs absorbing layer. The present application further discloses a method of making the multi-junction tandem laser photovoltaic cell. The present application uses AlGaAs as the absorbing layer of the multi-junction tandem cell to convert laser energy, which can effectively increase the open circuit voltage of the photovoltaic cell, thereby significantly improving the conversion efficiency of the photovoltaic cell.