In order to improve the energy efficiency of wearable devices, it is necessary to compress and reconstruct the collected electrocardiogram data. The compressed data may be mixed with noise during the transmission process. The denoising-based approximate message passing (AMP) algorithm performs well in reconstructing noisy signals, so the denoising-based AMP algorithm is introduced into electrocardiogram signal reconstruction. The weighted nuclear norm minimization algorithm (WNNM) uses the low-rank characteristics of similar signal blocks for denoising, and averages the signal blocks after low-rank decomposition to obtain the final denoised signal. However, under the influence of noise, there may be errors in searching for similar blocks, resulting in dissimilar signal blocks being grouped together, affecting the denoising effect. Based on this, this paper improves the WNNM algorithm and proposes to use weighted averaging instead of direct averaging for the signal blocks after low-rank decomposition in the denoising process, and validating its effectiveness on electrocardiogram signals. Experimental results demonstrate that the IWNNM-AMP algorithm achieves the best reconstruction performance under different compression ratios and noise conditions, obtaining the lowest PRD and RMSE values. Compared with the WNNM-AMP algorithm, the PRD value is reduced by 0.17∼4.56, the P-SNR value is improved by 0.12∼2.70.