The invention discloses an identity authentication device and method of OTP (one time password) token-based equipment based on two-dimension codes. The identity authentication method includes that a terminal acquires authentication URL (uniform resource locator) by scanning the two-dimension codes on OTP tokens; the terminal transmits the authentication URL to an authentication server for authentication; when the terminal accesses a website supporting the authentication URL after authentication of the authentication server is passed, a website/application server acquires authentication records of the authentication URL in the authentication server through OpenID, Oauth, FIDO or SAML; the website/application server transmits authentication results to the terminal according to the authentication records of the authentication URL in the authentication server. By the identity authentication method, the integral authentication process does not need manually inputted dynamic passwords, and the problems that authentication process of manually inputted dynamic passwords is complicated and user experience is poor are solved.