It is an object of the invention to provide a thermal transfer image receiving sheet which can enhance sensitivity by low heat conductivity and can be easily manufactured at a low cost compared with the lamination of a foaming film. In a thermal transfer image receiving sheet 1 wherein a thermal insulation layer 5 and a dye receiving layer 8 are formed on a base material sheet 2, the thermal insulation layer 5 is formed by extrusion-molding a resin containing at least one of a foaming agent and hollow bodies. The resin extruded at the time of forming the thermal insulation layer 5 is inserted between the base material sheet 2 and the base material film 6, and the base material sheet 2 and the base material film 6 are bonded to each other via the thermal insulation layer 5. The dye receiving layer 8 is formed outside of the base material film 6.