The invention discloses a method and a special device for automatically picking and suspending lifting rings. The method comprises a lifting ring suspending procedure and a lifting ring picking procedure; when the lifting rings are required to be suspended, a large hook hooks a lifting lug, the special device for automatically picking and suspending the lifting rings is down passed to the position of an elevator at the wellhead, so that corresponding round holes in the lower ends of the two lifting rings mounted on rails of a framework through pulleys are flush with the elevator, the two lifting rings are located on two sides of the elevator, a hydraulic cylinder retracts, the lifting rings move inwards in parallel along the rails of the pulleys and are suspended to the elevator, and the lifting ring suspending procedure is completed; and when the lifting rings are required to be picked, the hydraulic cylinder is stretched out, the two lifting rings move outwards in parallel along the rails of the pulleys and are picked from the elevator, and the lifting ring picking procedure is completed. The device enables the lifting rings to perform relative motion, a mechanical arm is omitted, and the operation is simple; and when the lifting ring are suspended, the hydraulic cylinder has a mechanical lock function, the link that a pin is penetrated through the elevator is omitted, and simplicity and safety are realized.