The invention belongs to the field of biotechnology, and particularly relates to a method for cultivating flammulina velutipes by means of broken rice. The method comprises the steps of culture mediumpreparation, material mixing, sterilization, innoculation, spawn running and fruiting; a culture medium is prepared from, by weight, 20 parts of broken rice and 27-33 parts of nutrient solution, wherein the nutrient solution is prepared from, by mass, 2.0-2.5% of glucose, 0.4-0.6% of beef extract, 0.18-0.22% of dipotassium phosphate, 0.14-0.19% of disodium hydrogen phosphate and the balance water, the sum of mass percents of all the components is 100%, and pH is natural. The total time from the time when flammulina velutipes hyphae cultivated with the broken rice culture medium overgrow the culture medium to the time when primordium splits to form sporocarp is shortened to be about 20 days, and compared with conventional cultivation, the flammulina velutipes growth cycle is greatly shortened; meanwhile, culture medium making is easy, convenience is brought to operation, the production and processing cost is low, the method can adapt to factory production and use, and the economic benefit is improved.