The invention provides an OLT equipment alarming data management method comprising the following steps of (1) checking link data of an alarm position variable the same as an overall position variable to enable the link data to be current link data, and retrieving an identifying guide number in the current data, (2) detecting whether the identifying guide number is equal to initialized data, executing step three (3) when the identifying guide number is not equal to the initialized data, executing step four (4) when the identifying guide number is equal to the initialized data, (3) deleting alarm data guided by the identifying guide number and executing step four, (4) inserting an alarm entry to an alarm list and storing a conversion identifying number in the alarm list to an identifying guide number of the current link data, (5) adding one to the overall position variable. The oldest alarm list can be aged and then a new alarm list can be inserted; one alarm data is needed to be stored, so space occupation is reduced; quick internal program operation can be achieved; and less code maintenance is required.