Disclosed　are　a　semiconductor　package　in　package　system　structure　and　manufacturing　method.　The　semiconductor　package　in　package　system　structure　includes　a　lead　frame,　　a　first　metal　material　layer,　　a　second　metal　material　layer,　　an　IC　chip　having　bumps,　　a　lead　bonding　IC　chip,　　an　insulation　filler　material,　　an　adhesive　material　and　a　plastic　package　material.　The　lead　frame　includes　a　chip　carrier　and　a　plurality　of　leads　surrounding　the　chip　carrier　and　arranged　in　multiple　rings.　The　first　metal　material　layer　and　the　second　metal　material　layer　are　provided　on　the　upper　surface　and　the　lower　surface　of　the　lead　frame　respectively.　The　insulation　filler　material　is　provided　under　a　step　structure　of　the　lead　frame.　The　lead　bonding　IC　chip　is　provided　on　the　chip　carrier.　The　bumps　of　the　IC　chip　having　bumps　are　provided　on　the　inner　leads　of　the　multiple　rings　of　leads　by　way　of　inverted　welding,　　and　the　IC　chip　having　bumps　and　the　lead　bonding　IC　chip　are　wrapped　by　the　plastic　package　material　to　form　a　semiconductor　package　in　package　system　structure.　The　present　invention　provides　a　3D　package　structure　based　on　QFN　package　with　high　reliability,　　low　costs　and　high　I/O　density.