The invention belongs to the field of spinning, and provides a knitting method and equipment for a cylindrical biaxial weft-knitting three-dimensional knitted structure. The biaxial three-dimensional knitted structure comprises two weft plain stitch structures, a group of spacer yarns, two groups of weft inserting yarns and a group of warp inserting yarns, wherein the two groups of weft inserting yarns are used for weft inserting on a needle dial or a needle cylinder in a selective manner; the warp inserting yarns are positioned between the two groups of weft inserting yarns; the two weft plain stitch structures are connected with each other through the group of spacer yarns, and are used for jointly clamping the weft inserting yarns and the warp inserting yarns. According to the knitting method and the equipment adopted, the needle dial, the needle cylinder and a draw-off mechanism are adopted to remain still; a triangle base, a yarn guiding device and a cylinder bracket are adopted to rotate synchronously; a warp inserting mechanism, in combination with the spacer yarns, is adopted for connecting the needle dial and knitting needles of the needle cylinder in a doubling stitch manner; the interval between the needle dial and the needle cylinder can be adjusted to complete knitting of the cylindrical biaxial weft-knitting three-dimensional knitted structure with the maximal thickness being no less than 2 cm; raw materials of the weft inserting yarns are wide in applicability, common yarns or high -performance yarns can be used as surface threads, and the performance of a three-dimensional knitting spacer fabrics is improved.