The invention relates to the technical field of hydraulic engineering, in particular to equipment for precise installation of an underwater component and an operation method. The equipment comprises a lifting ship body and a component; a lifting mechanism and a positioning mechanism are arranged on the lifting ship body; and the component is respectively corresponding to the lifting mechanism and the positioning mechanism. The equipment uses a guide rod for controlling the plane position of the underwater component, uses a sucker for guaranteeing the component to locate in a fixed state, guarantees controllability of the underwater component, achieves acceleration of the construction progress, improves the construction quality, and realizes the purpose of precisely mounting the underwater component without needing diving operation.