The invention discloses a power switch traffic monitoring system and monitoring method based on FPGA. The system is characterized by comprising a PHY chip, a FPGA receiving MAC module, a traffic monitoring module, a switch chip, a processor and a FPGA sending MAC module, wherein the PHY chip is a physical channel for Ethernet message transmission; the FPGA receiving MAC module finishes a decodingoperation of the Ethernet message so as to acquire data content of the Ethernet message; the traffic monitoring module performs the traffic monitoring on the message needing the traffic control; the switch chip finishes the forwarding of the Ethernet message; the processor module finishes the related configuration work and communicates with the FPGA; the FPGA sending MAC module forwards the message to the PHY chip, and then sends to far-end power communication equipment. The function copy can be conveniently realized through multiple Ethernet interfaces, the product development period is reduced, the extension is convenient, the FPGA is used for the realization, and the flexibility is high.