A method for manufacturing a cobalt (Co) alloy-based ceramic composite sputtering target is provided. A cobalt ingot and a chromium (Cr) ingot are melted in vacuum and then nebulized to form a cobalt-chromium (CoCr) alloy powder. Additionally, a ceramic powder and a platinum powder are wetly mixed to form a platinum-ceramic (Pt-ceramic) slurry, in which the ceramic powder is applied onto the platinum powder's surface uniformly. Next, the CoCr alloy powder and the Pt-ceramic slurry are wetly mixed to form a CoCrPt-ceramic slurry. Thereafter, the CoCrPt-ceramic slurry is dried, molded and compressed to form the cobalt alloy-based ceramic composite sputtering target. The resulted cobalt alloy-based ceramic composite sputtering target, which has a fine and dense structure, uniform composition and lower magnetic permeability, is beneficial to a magnetron sputter deposition process, as well as a film sputtering process used in the magnetic recording industry.