The invention relates to toe fork double needle three-toe socks and an improved braiding device based on five-toe socks braiding machine and the braiding method thereof. The stocking toe of the three-toe socks comprises a first toe sleeve in which the great toe can be sleeved, a second toe sleeve in which the fore toe, the middle toe, and the ring toe together can be sleeved at the same time, and a third toe sleeve in which the little toe can be sleeved. The improved braiding device comprises the rocker locating cam of the prior five-toe sock braiding machine, and also comprises a fork cutter locating seat, an on-off device formed by the fork cuter, and a fork cutter seat return mechanism installed on the machine; the curve radius of the fourth supporting and stopping position of the rocker locating cam is same as the curve radius of the fifth supporting and stopping position, the curve radius of the reverse cam of the rocker locating cam is also same; the braiding of the toe fork double needle three-toe socks is realized through the on-off of the fork cutter locating seat and the fork cutter seat driven by the fork cutter seat return mechanism, through the improvement to the prior five-toe sock braiding machine, the purpose that the toe fork double needle three-toe socks of the invention braided by utilizing the five-toe socks braiding machine can be realized.