The invention discloses a device for equipment hoisting on an overhead power line pole and an installation tool thereof, and belongs to the field of power construction. The device comprises at least one cross arm, wherein a pulley fixation device for installing pulleys for hoisting is fixedly connected to one end of the cross arm, a first stay wire hoop is fixedly connected to the other end of the cross arm, and the cross arm is installed on an electric pole through the first stay wire hoop. The installation tool comprises an elastic clamping piece, wherein a plurality of climbing wheels are uniformly distributed at the inner side of the elastic clamping piece, and the climbing wheels rotate to drive the elastic clamping piece to climb the electric pole; and a locking device for locking the first stay wire hoop is installed on the elastic clamping piece through a connection plate. The device is free form the influence of geographical environment, and in particular, avoids the dispute caused due to the entrance of large machinery into the ground, in the countryside, increases the construction efficiency, and reduces the construction expense; and the installation tool completes installation for the device on the premise of no need of manual climbing, and avoids the potential safety hazards brought by manual climbing installation.