An ultrathin polyester film is composed of a membrane-grade polyester slice and a polyester master batch slice, wherein the membrane-grade polyester slice accounts for 60% to 80% of the total weight of the ultrathin polyester film, and the polyester master batch slice accounts for 20% to 40% of the total weight of the ultrathin polyester film. The manufacturing method of the ultrathin polyester film is provided with corresponding special technological parameters in the processes of melt extrusion, roller cooling, longitudinal stretching, and horizontal stretching. The raw materials of the ultrathin polyester film contain a titanium homogeneous catalyst, so the ultrathin polyester film can be applied to the field of food package such as cooked food package, candy package, package for various kinds of foods, and the like, and is environment-friendly and nontoxic. Corresponding technological conditions are set in the production process of the polyester film product so as to achieve the product characteristics of high transparency, non-toxicity, no odor, high chemically-resistant performance, high temperature resistant performance, high corrosion resistant performance, good shielding performance on ultraviolet lights, and good oxygen gas obstructing performance.