To provide a method for knitting a three-dimensional knitted fabric having a good appearance, and to provide a knitted product.

A leg portion 3, a foot portion 5, and a heel portion 4 are knitted by a flat knitting method. A peripheral portion 7 is knitted to shrink in a wale direction without shrinking in a course direction. The peripheral portion 7 shrinks in the wale direction to the heel portion 5. The heel portion 5 is relatively expanded and floated in the wale direction on the basis of the peripheral portion 7, and the peripheral portion 7 is nipped and curved between the leg portion 3 and the foot portion 5. The peripheral portion 7 and the heel portion 4 can be knitted in continuous courses without needing a returning knitting method and a knit stitch-increasing/decreasing knitting method. Since the periphery of the expanded portion is shrunk, a three-dimensional knitted fabric having a good appearance is obtained.