The present invention provides a digital frequency modulation (FM) broadcast based clock synchronization method including: an FM broadcast receiver receives a wireless data broadcast signal broadcasted by an FM broadcast transmitter synchronized with the standard time; the FM broadcast receiver demodulates a time synchronization signal from the wireless data broadcast signal; the FM broadcast receiver obtains the local time information of the received time synchronization signal; the FM broadcast receiver synchronizes the timing and frequency of the local clock thereof according to the local position information of itself, the time synchronization signal and the local time information. The present invention also provides an FM broadcast receiver. The present invention realizes clock synchronization in a pseudolite system or an analogous pseudolite system by FM broadcast, i.e., transmits the standard time to the corresponding FM broadcast receiver via data broadcast on the frequency bands of FM by the FM broadcast transmitter, so as to solve the technical problem that the clock synchronization overrelies on satellite navigation in a pseudolite system or an analogous pseudolite system.