The invention discloses an intelligent circulating prestress mud jacking system and a control method thereof. A pressure compensation device is arranged on a mud jacking pipeline between a mud jacking pump and a mud inlet and comprises a piston and an elastic mechanism, wherein the end of the piston is communicated with the mud jacking pipeline, and the elastic force of the elastic mechanism drives the end of the piston to be pressed into the mud jacking pipeline. Pressurizers are arranged at the positions of the mud inlet and a mud outlet respectively to control the quantity of mud entering the duct of a beam component and the quantity of mud discharged from the duct of the beam component respectively. Electromagnetic flowmeters are arranged at the positions of the mud inlet and the mud outlet respectively to acquire flow signals of the mud inlet and the mud outlet. Two sets of mud jacking pump plungers are arranged to achieve mud jacking alternately, water and cement ratio control is achieved in a closed-loop control mode, and an effective circulation pressure value, a dwell pressure value, a lower dwell pressure limiting value and an upper dwell pressure limiting value and a dwell time value are set to control components and mud. The system has the advantages that mud pressure is stable, jacked mud is dense, and the quality of components is high.