The invention relates to the field of smelting, in particular to an electric arc furnace steelmaking method for making foaming slag by adopting calcium carbonate instead of calcium oxide. The electric arc furnace steelmaking method comprises the following steps: 1) charging is carried out; 2) smelting is carried out; 3) heating-up is carried out; and 4) oxidization is carried out, wherein when steel making is carried out in an electric arc furnace, calcium carbonate is added and is subjected to pyrolysis to produce CO2 and high-activity CaO, CO2 is pollution-free, CO2 bubbles float upwards for forming foaming slag, and the foaming slag can be completely submerged in arc. A situation that a furnace wall is corroded by high temperature generated by the exposed electric arc is avoided effectively, energy loss caused by electric arc exposure is avoided, and noise generated by an electrode in an electric arc generating process is reduced effectively; a foaming slag layer can react with C in smoke to produce CO, so that the probability that the C-containing smoke generated in a smelting process pollutes an operational environment is reduced; and high-activity CaO and P2O5 in the molten steel undergo oxidation reaction to produce CaO.P2O5 which is stably stored in steel slag for removal, thereby achieving the P removal effect.