The invention discloses a system and method for managing a passive electronic lock. The system comprises a key, a handheld end and a master station, wherein the key is used for recording lock information; and the handheld end is matched with the key to obtain geographical location information and transmits the lock information and the geographical location information to the master station. The handheld end is a handheld terminal having a bluetooth or infrared ray transmission function and is matched with the key through bluetooth or infrared rays. The lock information and address information are uploaded to the master station and sent to an operator to facilitate unlocking operation.