The invention discloses an inlaid guide bearing device and an installing method thereof. The inlaid guide bearing device is installed in an inner hole formed in a guide vane body of a horizontal multi-stage pump by adopting a high-temperature inlaying process in an interference fit mode and comprises an annular guide bearing made of a carbon graphite material and an annular metal support, wherein the outer diameter of the metal support is greater than the inner diameter of the guide vane body, the inner diameter of the metal support is smaller than the outer diameter of the guide bearing, and the guide bearing is installed in the inner hole formed in the metal support by adopting the high-temperature inlaying process in the interference fit mode. The inlaid guide bearing device has the advantages of being good in self-lubricating property, being resistant to high temperature and corrosion and being suitable for multiple medium environments, anti-impact property can be also improved, the reliability can be improved, the service life is prolonged, maintenance work amount is decreased, and maintenance cost is reduced.