The invention provides a satellite bidirectional time frequency delivery method based on dual-carrier phase real-time compensation. A ground station acquires a transmission path delay according to transmission phase delays of two downlink signals, reciprocating transmission on a satellite-ground link is achieved via a carrier signal to measure the transmission path delay in real time and dynamically compensate the same, and meanwhile time injection from the ground station to a satellite is achieved; a carrier phase measurement method which is more accurate than a pseudo code measurement method is selected for measuring the transmission path delay in real time, and time delivery accuracy is further improved; the reproduced remote clock signal is transmitted to the ground station via a satellite for comparing time, and thus time delivery between the ground stations at difference places is achieved.