The present invention relates to a method for molding a substantially improved heat-resistant sound absorbing and insulating material, which uses a sound absorbing material containing, based on 100 parts by weight of the sound absorbing material, an amount of about 20-80 parts by weight of a fiber material having a limiting oxygen index (LOI) of about 25% or greater and a heat resistance temperature of about 200° C. or greater and an amount of about 20-80 parts by weight of a thermosetting binder resin having a heat resistance temperature of about 200° C. or greater and is installed on an engine cylinder block and an automotive body panel above a muffler of a vehicle. The method includes: a releasing agent coating step of coating a releasing agent inside a heated die; a heated compression molding step of fixing a shape; and a cold compression step of stabilizing the shape.The substantially improved heat-resistant sound absorbing and insulating material molded according to the method can reduce the noise inside a vehicle by blocking radiated noise, which is generated from an engine and an exhaust system, from being transferred to the inside of the vehicle through an automotive body panel, can maintain its shape even under a high-temperature environment of about 200° C. or greater generated by the engine and the exhaust system, and can satisfy UL 94V-0 flame retardancy.