The present disclosure provides a phase shifter and a manufacturing method thereof, and an antenna. The phase shifter includes a first substrate and a second substrate, and a medium layer arranged between them. The first substrate includes a reference electrode arranged on a side of a first base substrate close to the medium layer, and the second substrate includes a delay line arranged on a side of a second base substrate close to the medium layer. An orthographic projection on the first substrate of the delay line at least partially overlaps with that of the reference electrode. A line spacing and/or a line width of the delay line is enable to make a cell thickness between the first substrate and the second substrate be 20 μm-75 μm.