This paper proposes a new approximation method called Enhanced Two-Point Exponential Approximation (ETPEA), which is derived based on Two-Point Exponential Approximation (TPEA). In TPEA, when the exponents of intervening variables cannot be calculated by fitting the sensitivities of the previous design point, the accuracy of TPEA is decreased. In such cases, ETPEA uses a substitution function to construct the approximate function, and the optimum result can be improved. Some typical structural optimization problems are tested, and the results indicate that the optimum design can be found accurately and quickly with the new approximation method. It is verified that the new approximation method is also efficient for large structural optimization problems.