The invention relates to the technical field of COB light sources, in particular to a manufacturing method of a double-color COB light source, a manufacturing device of the double-color COB light source is used, and the manufacturing device of the double-color COB light source comprises a U-shaped frame, a conveying belt, a fixing base, a supporting unit and a blanking unit. An existing stamping device has the following problems that according to the stamping device, aluminum substrates need to be frequently installed, the aluminum substrates cannot be continuously stamped, and the stamping efficiency of the aluminum substrates is prone to being reduced; according to the punching device, a punch needs to be replaced frequently, the situation that the punch is not installed in place possibly can be caused, and therefore the punching precision of an aluminum substrate is easily affected; intermittent and continuous blanking processing can be carried out on the substrate through the supporting unit and the blanking unit, and the blanking efficiency of the substrate can be improved; blanking machining can be conveniently conducted on substrates of different models through the U-shaped cutter, and the U-shaped cutter can be limited and fixed, so that the situation that the blanking precision of the substrates is affected due to shaking of the U-shaped cutter is avoided.