The invention provides an on-board terminal time recording system comprising an acquisition module, a timing module, a time correction module, a processing module, and a storage module. The acquisition module is used to acquire vehicle state parameter information. The timing module is used to provide local RTC time for an on-board terminal by adopting a real-time clock(RTC). The time correction module is used to correct the real-time clock. The processing module is used to provide a time stamp for the vehicle state parameter information acquired by the acquisition module according to the local RTC time provided by the timing module. The storage module is used to store the vehicle state information with the time stamp. The time correction module comprises at least two of following units, which are respectively a GPS/BEIDOU unit, a time server unit, and a system server unit. The time correction module is used to correct the local RTC time provided by the timing module according to satellite time acquired by the GPS/BEIDOU unit. The time correction module is used to correct the local RTC time provided by the timing module according to the time of the time server unit. The time correction module is used to correct the local RTC time provided by the timing module according to the time of the system server unit.