The invention discloses a production method of expanded polyethylene/polystyrene beads. The production method is characterized by comprising the following steps: (1) uniformly mixing polyethylene resin, polystyrene resin, a compatilizer, a crystallization nucleation adjuvant and other processing adjuvants, and carrying out mixing, extrusion, drawing and granulation through an extruder to prepare modified polyethylene/polystyrene particles; and (2) feeding the modified polyethylene/polystyrene particles into a reaction kettle, injecting supercritical CO2, segmentally pressurizing step by step under heating to enable gas to fully penetrate into the modified polyethylene/polystyrene resin, generating internal pressure for outward expansion, and then instantly releasing the pressure to be equal to the atmospheric pressure after certain time to obtain the expanded polyethylene/polystyrene beads with a certain ratio. The production method overcomes the shortcomings of low bonding strength among the EPS beads and low rigidity of EPE. Meanwhile, the foaming process is low in production cost, high in production efficiency and favorable for implementing industrialization, and can be widely applied to the fields of automotive interior trim parts, packaging materials, building materials, heat isolation materials and the like.