The invention discloses an in-vitro culture method of umbilical cord blood megakaryocyte progenitor cells. According to the method, a specific megakaryocyte progenitor cell medium is inoculated with umbilical blood cells for culture. The specific megakaryocyte progenitor cell medium is a serum-free medium containing 40vol%-50vol% of hematopoietic stem cell culture supernatant, 50+/-10 ng/mL SCF and 50+/-10 ng/mL TPO, wherein the hematopoietic stem cell culture supernatant is obtained by culturing umbilical cord blood hematopoietic stem cells in a serum-free medium containing IL-6, IL-3, SCF, Flt-3L and TPO for 3-4 days. With the adoption of the method, the progenitor cell characteristics of umbilical cord blood megakaryocyte progenitor cells realizing in-vitro amplification are effectively improved, the megakaryocyte progenitor cell obtaining efficiency is improved, and accordingly, the capacity of the megakaryocyte progenitor cells differentiating into blood platelet is improved. In the amplification stage of the megakaryocyte progenitor cells, the consumption of added cell factors is reduced, accordingly, material consumption is reduced, and the cost is reduced.