The invention discloses a flammulina velutipes medium, which is composed of palm fiber, rice straw, potato starch, glycerol, ethylene glycol, a 5-8wt% NaOH solution, peanut shell, humic acid powder, plant ash, Chinese medicine residue, sodium alginate, soybean powder, citric acid, amino acid, mushroom residue, fish oil and water. The invention utilizes the principle of liquid fermentation, organic matters are firstly subjected to fermentation, the fermentation broth is rich in nutrition, and can quickly be absorbed by flammulina velutipes. The flammulina velutipes medium also contains straw fiber, and belongs to a fibrous matter with good toughness and strong water absorption after structural treatment, and can be used cooperatively with the added liquid nutritional components to play a storage role, and high toughness endows the medium with a good structural framework, and the medium can still maintain a fluffy state after a long time. The medium provided by the invention is suitable for use as a flammulina velutipes medium.