The invention discloses a manufacturing method of a carbon fiber grid cloth reinforced composite EPP foamed sheet and a product. The method is characterized by comprising: a. preparing materials: specifically, preparing the following thermoplastic PP foaming raw materials: 50-70 of high melt strength PP, 20-25 of ordinary PP, 8-15 of polyethylene, 6-10 of talc masterbatch, 0.1-0.3 of a main antioxidant, 0.1-0.5 of an auxiliary antioxidant, 0.6 of a heat stabilizer, 1-3 of color masterbatch, 0.3-0.4 of mineral oil, 5-10 of butane or CO2 gas, and 0.1-0.15 of glycerel monostearte; preparing the following thermoplastic PP bonding layer raw materials: 40 of copolymerized PP, 55 of ordinary PP, 0.2 of a main antioxidant, 0.4 of an auxiliary antioxidant, 0.6 of a heat stabilizer, 2.0 of color masterbatch, 0.1 of a light stabilizer, and 0.2 of mineral oil; b. mixing the materials; c. sending the thermoplastic foaming raw materials into an automatic feed hopper; d. extruding a foamed blank sheet, and compounding the blank sheet with carbon fiber grid cloth and PP non-woven fabric to obtain an EPP foamed composite board; and e. subjecting a PP bonded composite film blank and a composite material, an EPP foamed composite sheet together to impregnation and rolling to obtain a composite sheet finished product.