The invention relates to the novel technical field of edible fungi cultivation, and particularly relates to a cultivation method of flammulina velutipes. The method concretely comprises the following steps: selecting a flammulina velutipes variety which is free of infectious microbes, robust in mycelial growth, and adapted to local climate, and grows out hypha all over without aging as a seed source; selecting corncob, saw dust, bran and the like as raw materials; then mixing raw materials, bagging, sterilizing, inoculating and cultivating to obtain a fungi bag for production; finally carrying out open fruiting, fruiting management, recovery and final-period management, thus finishing the overall cultivation process. By implementing the method, the yield and the quality of the flammulina velutipes are further improved and the production cycle is shortened by selecting high-quality bacteria, grasping the optimal cultivation season and adopting high-quality raw materials, optimal formula, culture method improvement and the like, and the production cost and the economic benefits are greatly reduced. The cultivation method is applicable to factorial, large-scale and intensive production of the flammulina velutipes.