The invention provides a calculation method with a high-accuracy phase and the small-memory capacitance lookup. According to the technical scheme of the invention, the calculation method comprises the following steps: firstly, pretreatment process, namely, calculating the quantization position width and an iteration number value of a target point coordinate value, and constructing a phase mapping table; secondly, coordinate iterative process, namely, calculating a lookup coordinate of a target point; thirdly, lookup process, namely, looking up a phase value corresponding to the coordinate by utilizing a phase mapping table; and fourthly, phase retrieval process, namely, calculating a final phase result. The calculation method is capable of greatly improving the phase calculation accuracy under the condition of same memory capacitance with a phase mapping table in a traditional lookup table method, or greatly reducing the scale of the phase mapping table under the condition of keeping the same phase calculation accuracy, or simultaneously greatly improving the phase calculation accuracy and greatly reducing the scale of the phase mapping table.