The invention relates to a lifting appliance (1) having a self-balancing adjustment system and a lifting method thereof. The lifting appliance (1) is composed of a load distributor (2), a rigging (3), an oil cylinder (4) and the self-balancing adjustment system (5). When the above structure and system are used, the novel lifting appliance (1) and the lifting method can guarantee that large components, especially uneven-load components, have minimum deflection amount in the lifting process and the produced deformation is smaller, and requirements on lifting and high-height pairing of components and equipment are met.