A thermal interface material (40) includes a silver colloid base (32), and an array of carbon nanotubes (22) disposed in the silver colloid base uniformly. The silver colloid base includes silver particles, boron nitride particles and polysynthetic oils. The silver colloid base has a first surface (42), and a second surface (44) opposite to the first surface. The carbon nanotubes are substantially parallel to each other, and extend from the first surface to the second surface. A method for manufacturing the thermal interface material includes the steps of: (a) forming an array of carbon nanotubes on a substrate; (b) immersing the carbon nanotubes in a silver colloid base; (c) solidifying the silver colloid base; and (d) peeling the solidified silver colloid base with the carbon nanotubes secured therein off from the substrate.