The invention discloses a monitoring and wave recording device of a relay protection channel. The monitoring and wave recording device comprises a shell, a power circuit, channel signal processing circuits, optical splitters and a central processing circuit. The monitoring and wave recording device is characterized in that a circuit board is installed in the shell, and the circuit board is provided with the central processing circuit, the identical channel signal processing circuits and the identical optical splitters. A communication interface of the device can be communicated with a background computer, and after monitoring software is installed on the background computer, channel data can be obtained from the device and analyzed. A GPS time tick interface is used for the accurate time tick of the device. The device can monitor and store data transmitted in a plurality of 2M channels or optical fiber channels, and the reasons why the channels are abnormal are judged through analyzing.