The invention provides an electric meter resetting circuit and an electric meter. The electric meter resetting circuit comprises an electric meter main control chip, a reset control circuit, a power supply conversion circuit and a peripheral circuit, wherein the electric meter main control chip is respectively connected with the reset control circuit and the power supply conversion circuit, and the reset control circuit, the power supply conversion circuit and the peripheral circuit are sequentially connected; the reset control circuit is used for determining whether to input a square-wave signal outputted by the electric meter main control chip or not according to an operating state of the electric meter main control chip and converting input mains supply voltage into power supply voltage; and the power supply conversion circuit is used for converting the power supply voltage into operating voltage and providing a power supply for the peripheral circuit and the electric meter main control chip through the operating voltage. The reset control circuit adopts discrete devices and is used by being combined with the electric meter main control chip in a matched manner, thereby enablinga chip staying at a latched state to reset through cutting off the power supply when the electric meter stays at an abnormal operating state, and enabling the system to return back to normal operations.