The invention provides a lifting protection system for hoisting equipment. The lifting protection system comprises a feedback receiving unit, a closed-loop control unit and an open-loop control unit, wherein the feedback receiving unit is used for receiving and monitoring a feedback signal from a coder; when the feedback signal is abnormal, the open-loop control unit is operated; when the feedback signal is normal, the closed-loop control unit is operated; the closed-loop control unit is used for performing closed-loop control on a lifting motor for operation by using the feedback signal; the open-loop control unit is used for performing open-loop control on the lifting motor for operation. The invention also provides a lifting protection method for the hoisting equipment. By automatically switching a closed-loop control mode of the lifting motor into an open-loop control mode when the feedback signal of the coder is abnormal, the hoisting equipment does not halt when the feedback signal of the coder is abnormal, so that requirements on a specific application occasion are met.