  QCD corrections to $b \to s \gamma$ decay in the two Higgs doublet model are
calculated from the energy scale of top quark to that of bottom. The
constraints on the two Higgs doublet model from the new experimental bounds of
$b\to s\gamma$ by CLEO and the latest top quark mass by CDF and D0 are
reanalyzed. It shows that the constraints become more stringent than that of
the earlier analysis, i.e. a bigger region of the parameter space of the model
is ruled out.
