The invention discloses an improved molding method of an ETPU (expanded thermoplastic polyurethane) foaming body. The method comprises following steps: 1, TPU (thermoplastic polyurethane) particles are impregnated in high-pressure fluid, dissolution equilibrium of the high-pressure fluid in the TPU particles is realized, pressure of the high-pressure fluid is 70 MPa or lower, and temperature of the high-pressure fluid is 70 DEG C or lower; 2, the TPU particles reaching the dissolution equilibrium are refrigerated in a refrigeration storage, so that the high-pressure fluid in the TPU particlesis still retained in the TPU particles; 3, a certain quantity of TPU particles reaching the dissolution equilibrium are taken out from the refrigeration storage according to actual demands and subjected to molding in a steam foaming or die pressing foaming mode, and the ETPU foaming body is obtained. The improved molding method has the characteristics of better connectivity of the adjacent particles and low production cost.