The invention discloses a cable local discharge live correcting method based on an HFCT. The method comprises the following steps of: installing an HFCT coil on a shielded wire of a cable terminal in a through manner; supposing that mutual inductance exists between the HFCT coil and the shielded wire of the cable terminal, and applying a square-wave voltage output by a signal generator to the HFCT coil, wherein the amplitude of the square-wave voltage output by the signal generator at moment t is USG'(t); solving a current i(t) flowing through the HFCT coil and a sensing impulse voltage [delta]U(t) across the shielded wire of the cable terminal at moment t according to the amplitude USG'(t) of the square-wave voltage output by the signal generator at the moment t; when t=tm, solving a correcting coefficient k1 of the cable terminal, and performing discharge live correcting on the cable terminal according to the correcting coefficient k1 of the cable terminal; and calculating a correcting coefficient k2 of the part, from which the position to the cable terminal is x, of the cable, and performing discharge live correcting on the part, from which the position to the cable terminal is x, of the cable according to the correcting coefficient k2 of the part of the cable. According to the invention, the cable discharge live correcting can be performed.