A steel sheet having high strength and high formability according to an aspect of the present invention includes: % by weight, an amount of 0.12-0.22% of carbon (C); an amount of 1.6-2.4% of silicon (Si); an amount of 2.0-3.0% of manganese (Mn); an amount of 0.01-0.05% of aluminum (Al); an amount greater than 0 and less than or equal to 0.05% of the sum of one or more of titanium (Ti), niobium (Nb) and vanadium (V); an amount of 0.015% or less of phosphorus (P); an amount of 0.003% or less of sulfur(S); an amount of 0.006% or less of nitrogen (N); and the reminder of Fe and inevitable impurities, and has a yield strength (YS) of 850 MPa or greater, a tensile strength (TS) of 1180 MPa or greater, an elongation ratio (EL) of 14% or greater, and a hole expansion ratio (HER) or 30% of greater.