The invention discloses a method for smelting ultra-low carbon steel with carbon lower than or equal to 20 PPm. The method comprises the steps that molten iron desulphurization is conducted through pure magnesium and slaked lime, smelting in another furnace is conducted, high carbon ferromanganese is added according to high oxygen content; argon blowing is conducted; vacuum treatment is carried out inside a RH furnace; vacuum decarburization is conducted, a low-carbon refining agent is added to carry out desulfuration and slugging, and when the vacuum treatment is conducted for 15 min, aluminum balls are added; after recycling is conducted for 3 min, silicon iron, ferromanganese, a low-carbon desulfurizing agent are added immediately, and after the recycling is conducted for 5 min, the vacuum treatment is finished; the aluminum balls are sprinkled on the surface of steel slag, and after the total content of iron oxide and MnO in the slag is lower than 5.5 wt%, a later procedure is conducted. On the premise that the mechanical property of the ultra-low carbon steel is guaranteed, the carbon can be lower than or equal to 20 PPm, parts of low-carbon ferromanganese is replaced with parts of the high carbon ferromanganese, the carbon content is lower than 0.15 wt%, parts of slugging materials and parts of a deoxidizing agent are replaced with the low-carbon refining agent and the low-carbon desulfurizing agent, the cost can be lowered by at least 30 yuan per ton of steel, the smelting process is stable, and slagging is good in the refining process.