A high-strength and high-toughness tube for perforating gun, having a formulation of chemical elements in percentage by mass as follows: C: 0.15%-0.22%, Si: 0.1%-0.4%, Mn: 0.5%-1%, Cr: 0.3%-0.7%, Mo: 0.3%-0.7%, Nb: 0.01%-0.04%, V: 0.1%-0.2%, Ti: 0.02%-0.05%, B: 0.0015%-0.005%, Al: 0.01%-0.05%, Ca: 0.001%-0.004%, N≤0.008%, and the balance of Fe and other inevitable impurities. Accordingly, further disclosed is a method for manufacturing a high-strength and high-toughness tube for perforating gun. The high-strength and high-toughness tube for perforating gun of the present invention has high strength, good toughness and uniform circumferential strength, and is suitable for application in the field of petroleum exploration and exploitation.