The invention discloses an integrated hardware platform integrating relay protection, measurement control and wave recording functions and a processing method. By connecting an electric power device based on the integrated hardware platform to an electric power system, the relay protection, measurement control and wave recording functions on the electric power system can be achieved. The integrated hardware platform comprises an ADC unit, a storage unit, an FPGA unit, an MAC network port unit and a CPU; the ADC unit is used for converting an analog signal of the electric power system into a digital signal; the storage unit is used for storing data; the FPGA unit is used for processing the digital signal output by the ADC unit; the MAC network port unit is used for outputting a signal obtained after processing of the FPGA unit to conduct relay protection or measurement control or wave recording on the electric power system; and the CPU is used for controlling the various units. By connecting the electric power device based on the integrated hardware platform to the electric power system, the relay protection, measurement control and wave recording functions can be achieved, a relayprotection device and a measurement control device of an original electric power system are replaced, and the hardware cost is reduced.