The invention relates to a hole expansion electrolyte and a production method of an electrode foil with high specific surface area for an aluminum electrolytic capacitor. The hole expansion electrolyte mainly contains aluminum nitrate and phosphoric acid solution. The production method comprises a first pre-treatment step, a second anode oxidization step, a third acid pickling step, a fourth corrosion pitting step, a fifth hole expansion step and a sixth post-treatment step. The invention has simple process, convenient operation and less environment pollution. The electrode foil for the aluminum electrolytic capacitor produced by the invention has optimal normal distribution in hole diameter distribution, hole area and minimal hole pitch distribution, thus achieving uniform pitting capable of controlling the corrosion start point and greatly improving the specific capacity of the electrode foil for the aluminum electrolytic capacitor. Accordingly, the prepared aluminum electrolytic capacitor has a specific surface area of 10% to 15% and a specific capacity up to 0.70 to 0.75 muF/cm<2>.