The invention relates to a transformer vibration monitoring system based on a wireless sensing technology and a testing method. The transformer vibration monitoring system comprises a transformer vibration monitoring unit, a vibration data receiving device and computer equipment, wherein the vibration data receiving device and computer equipment are sequentially connected with the transformer vibration monitoring unit; the transformer vibration monitoring unit is used for collecting vibration signals of all measuring points on the surface of a transformer and the temperature of the transformer, the transformer vibration monitoring unit comprises a single chip microcomputer, a data sending device, a digital signal processor and an interface module, and the data sending device, the digital signal processor and the interface module are connected with the single chip microcomputer; the interface module is further connected with a three-axis acceleration sensor and a temperature sensor. The sensors are arranged on the surface of a transformer tank and not directly and electrically connected with the transformer, and detected transformer vibration acceleration time-domain signals can be simply analyzed in a spectral mode and finally stored in a data report mode. The system can be used for monitoring vibration of the transformer at all voltage classes under all operation conditions and is accurate and rapid and convenient to use.