The invention provides a steam huff and puff exploitation method. The method comprises the following steps: selecting a well network of a closed horizontal well as an injection and exploitation well network; injecting non-condensed non-hydrocarbon gas into the injection and exploitation well network, wherein the injection amount is calculated according to the following formula: Q=AV/T, wherein Q is a ground injection amount of the non-condensed non-hydrocarbon gas, the unit of Q is m<3>, V is a ground layer voidage volume, the unit of V is m<3>, A is 9669, T is a ground layer temperature, and the unit of T is K; continuously injecting high-temperature steam into the injection and exploitation well network; carrying out a huff and puff production process, and carrying out sleeve gas monitoring in the production process; when the content of injected gas is raised to 70%-100%, closing a well for 6-12 hours; after a gas-liquid interface is recovered, opening the well to produce. The steam huff and puff exploitation method provided by the invention can be used for steam huff and puff exploitation of heavy oil reservoirs, and the steam huff and puff exploitation effect of the heavy oil reservoirs can be effectively improved.