Disclosed herein is a transition metal-substituted hydrotalcite catalyst for removing nitrogen oxides using a storage-reduction method, in which a molar ratio of transition metal to magnesium is 0.2 or less, and a method of manufacturing a transition metal-substituted hydrotalcite catalyst for removing nitrogen oxides using a storage-reduction method, including the steps of preparing a hydrotalcite synthesis solution including transition metal precursors such that the molar ratio of transition metal to magnesium is 0.2 or less, and preferably 0.001 to 0.2; aging the synthesis solution; and hydrothermally treating the synthesis solution.