The utility model belongs to the field of living goods, and particularly relates to an expandable capacity heat insulating basket which comprises a basket body and a handle. The heat insulating basket is characterized by further comprising a metal frame for mounting the basket body and the handle, a foldable supporting rod is arranged on the metal frame, the basket body is made of heat insulating cloth and provided with a cover and a plurality of capacity expanding hinges, a folding edge is arranged on the cover, folded and then combined with the capacity expanding hinges above the basket body to form a capacity expanding cavity, the basket body is connected with the metal frame in a removable manner through hook-and-loop fasteners, and the handle is movably connected with the metal frame through hinges. The loading capacity and reliability of the heat insulating basket are improved, occupied space of the heat insulating basket not in use can be reduced, the capacity of the heat insulating basket can be effectively expanded, and heat insulating effects are fine.