The invention provides a high-speed data acquisition and digital signal processing device which comprises a travelling wave data acquisition module, a travelling wave data processing module and an information input and output module, wherein the travelling wave data acquisition module can comprise a core control module, a second-order active low-pass filter module, a second-order inactive band-pass filter module, a protective hardware starting module, a multi-circuit conversion switch module, an A/D conversion module and a double-port RAM (random access memory) module; and the information input and output module can comprise an information processing module, an Ethernet control module, a switching value input module and a switching value output module. According to the technical scheme inthe invention, the synchronous high-speed data acquisition can be carried out on current travelling waves and voltage travelling waves according to the technical scheme in the invention; simultaneously, the real-time high-speed digital signal processing is carried out on a larger amount of travelling wave data; and the travelling wave data characteristics are extracted and a wavelet transform algorithm is realized, thereby providing a hardware platform and a software platform for realizing a travelling wave protection technique.