Concerning the problem that the calculations of the existing regenerating code schemes is based on GF( q), and it has high computational complexity and low efficiency, a regenerating code construction method based on sparse random matrix over GF(2) and product matrix framework was proposed. Firstly, file data was arranged in a matrix and the row XOR operation was performed according to encoding matrix. Secondly, local data was encoded by helper nodes according to failed node's encoding vector and sent to repair node. Finally, the failed node's data was decoded by repair node according to received data. The experimental results show that the repair bandwidth of the proposed method is only one-tenth of traditional erasure code at most, and the encoding rate increases by 70% and decoding recovery rate increases by 50% compared with regenerating code based on conventional Vandermonde matrix, which facilitates the application of regenerating code in massive storage system.