The invention discloses an extra-high voltage zinc oxide arrester leakage current measurement device and method to solve the problems that test reading of an extra-high voltage zinc oxide arrester used in an extra-high voltage transformer substation can not be conveniently conducted and the influence of a leakage current is interfered with. The extra-high voltage zinc oxide arrester leakage current measurement device comprises a voltage regulator (1), a high-voltage silicon pile rectifier (10) and the extra-high voltage zinc oxide arrester (8). An alternating current power supply is connected to a primary edge of the voltage regulator, one end of a secondary edge of the voltage regulator is connected with an input end of the high-voltage silicon pile rectifier, an output end of the high-voltage silicon pile rectifier is connected with one end of the extra-high voltage zinc oxide arrester, the other end of the extra-high voltage zinc oxide arrester is connected with the ground, the other end of the secondary edge of the voltage regulator is connected with the ground after being sequentially connected with a milliammeter (2), a microammeter (3) and an inductor (5) in series, and a voltmeter (9) is connected between the output end of the high-voltage silicon pile rectifier and a connecting end of the milliammeter and the microammeter in parallel. According to the extra-high voltage zinc oxide arrester leakage current measurement device and method, reading can be conveniently and easily conducted, and the influences of a high voltage on measurement of the microammeter do not exist.