The invention provides a high-speed network storage encryption and decryption method. According to the method, exchange concurrent operation processing is performed on state information; line speed magnetic disk command mapping for an FC encryption machine is completed; independent burst processing is performed through 64-bit burst pipelines; data flow scheduling is carried out for an encryption board through using an interface FPGA; the values of water lines are adjusted between the interface board FPGA and an encryption and decryption board FPGA through GPIO signals; a QDR SRAM is adopted as a primary cache to complete caching between secondary modules; a DDR DDR3 is adopted as a secondary cache to complete caching between primary modules; and therefore, an encryption and decryption process can be completed. A general HASH chain table mode is adopted, so that a searched target can be located quickly and accurately; token marks are marked on each frame, so that disorder can be prevented effectively; a plurality of 64-bit burst pipelines are arranged in the FPGAs, so that independent burst processing can be carried out according to the differences of tasks, and a working procedure node combines results, and therefore, the problem of access processing capability can be effectively solved.