The invention discloses a system and method for monitoring a traffic signal facility working state in real time. The system comprises a signal collection unit, a data processing unit, a fault identification unit, a fault preprocessing system and a wireless transmission unit; the signal collection unit comprises a current voltage collection module and an image collection module, an input end is connected with an output end of a traffic signal facility, the output end is connected with the data processing module, the data processing unit comprises a preset value of a data collection item, the preset value is compared with the collected data so as to judge a working state of the traffic signal facility; the fault identification unit is used for outputting a specific location and fault type ofthe fault. When the system is in fault, the fault information is sent to a traffic monitoring center through a wireless transmission way, and the fault preprocessing system is started to ensure thatthe traffic signal facility in fault can recover the normal working state within short time, thereby avoiding the problem that the traffic order is out of order due to signal lamp fault.