The invention belongs to the field of cutter state monitoring and specifically discloses a cutter state monitoring system based on electromagnetic induction and a radio frequency identification technology. The system comprises a connecting device, a power supply device, an induction device and a data transmission device, wherein the connecting device is used for fixation; the power supply device comprises a power supply circuit board fixed on a machine tool main shaft, an energy sending coil as well as an energy receiving coil and an induction circuit board fixed on a cutter handle, and the power supply device is used for wireless transmission of electric energy under electromagnetic induction effects; the induction device is used for monitoring cutter states; and the data transmission device comprises a radio frequency identification coil on a power supply end and a radio frequency identification coil on an induction end, and the data transmission device is used for wireless communication in a radio frequency identification mode. The system disclosed by the invention has the beneficial effects that acquisition of continuous and stable electric energy by the induction device and the data transmission device can be ensured; a lithium battery does not need to be replaced frequently; a stable data transmission circuit can be formed; and real-time and stable transmission of data collected by the induction device can be guaranteed.