The invention relates to a substitution-method well killing experiment device and method. The device comprises a high-pressure transparent well shaft, a fluid storage tank, a fluid pipeline, an air compressor, a data acquisition device and a computer, wherein the high-pressure transparent well shaft is used for simulating a borehole on site and provided with a pressure sensor used for recording borehole and well bottom pressure in real time; the fluid storage tank is provided with a fluid storage tank fluid charging opening, a fluid storage tank deflation opening, a fluid storage tank fluid outlet and a fluid level meter; the fluid pipeline is used for forming a kill fluid circulating loop between the fluid storage tank and the high-pressure transparent well shaft; the air compressor is used for generating high-pressure air and conveying the air to the high-pressure transparent well shaft so as to be used for simulating high well shutdown pressure; the data acquisition device is used for acquiring simulation experiment field data; the computer is used for controlling experiment field operation according to the simulation experiment field data.