There is no standard functions to refresh lightning:recordEditForm after save record. You can use aura:if to re-render the field section inside record edit form, after successfully saved the record.

Lightning Component:

<aura:component implements="flexipage:availableForAllPageTypes,force:appHostable">
    
    <!--Attributes-->
    <aura:attribute name="reloadForm" type="boolean" default="true" />
    
    <!--Component Start-->
    <div class="slds-m-around_xx-large">
        <lightning:recordEditForm objectApiName="Account"
                                  aura:id="accForm"
                                  onload="{!c.handleOnLoad}"
                                  onsubmit="{!c.handleOnSubmit}"
                                  onsuccess="{!c.handleOnSuccess}"
                                  onerror="{!c.handleOnError}">
            <lightning:messages />
            <aura:if isTrue="{!v.reloadForm}">
                <lightning:inputField fieldName="Name"/>
                <lightning:inputField fieldName="AccountNumber"/>
                <lightning:inputField fieldName="Industry"/>
                <lightning:inputField fieldName="Phone" />
                <lightning:inputField fieldName="Website" />
                <aura:set attribute="else">
                    Saving...
                </aura:set>
            </aura:if>
            <lightning:button variant="brand" type="submit" name="save" label="Save" />
        </lightning:recordEditForm>
    </div>
    <!--Component End-->
</aura:component>

Lightning JS Controller:

({
    handleOnLoad : function(component, event, helper) {
         
    },
     
    handleOnSubmit : function(component, event, helper) {
        
    },
     
    handleOnSuccess : function(component, event, helper) {
         component.set("v.reloadForm", false);
        component.set("v.reloadForm", true);
    },
     
    handleOnError : function(component, event, helper) {
         
    },
     
})