In this paper, a three-layer medium model is established to simulate the sea surface, and the foam layer is regarded as a homogeneous medium using the effective medium approximation theory. The influence of white foam on the backscattering coefficient of radar altimeter inversion is deduced according to the quasi-specular scattering theory. By analyzing the relationship between the backscattering coefficient and wind speed, we can deduce the influence of white foam on wind speed. In the paper, a cyclic iterative correction algorithm is proposed to correct the influence of the white foam on the backscattering coefficient and wind speed. The algorithm is validated by using a high wind speed matching dataset of Jason-2 radar altimeter data with NDBC buoy data.