The invention discloses a precision compensation system and method of an injection molding machine manipulator, and relates to the technical field of injection molding machine manipulators. As for theprecision compensation system of the injection molding machine manipulator, a first temperature sensor and a second temperature sensor are arranged on an x-axis cross beam of the injection molding machine manipulator, a third temperature sensor and a fourth temperature sensor are arranged on a y-axis cross beam, and a fifth temperature sensor and a sixth temperature sensor are arranged on a z-axiscross beam; a manipulator controller obtains temperature data collected by each temperature sensor, calculates errors of the injection molding machine manipulator in the x axis, the y axis and the zaxis directions according to the temperature data of each temperature sensor, and conducts precision compensation according to the errors in the directions of the x axis, the y axis and the z axis. According to the precision compensation system and method of the injection molding machine manipulator, the errors generated by the temperature is compensated, and thus the precision of the injection molding machine manipulator is improved.