A method of making a stretchable film structure is provided. An elastic substrate is pre-stretched in a first direction and a second direction to obtain a pre-stretched elastic substrate. A carbon nanotube film structure is laid on a surface of the pre-stretched elastic substrate. The carbon nanotube film structure comprises a plurality of super-aligned carbon nanotube films stacked with each other. The pre-stretching the elastic substrate is removed and a plurality of wrinkles is formed on a surface of the carbon nanotube film structure to form the stretchable film structure. The present disclosure also relates to the stretchable film structure obtained by the above method.