Provided is an internet of things payment method and apparatus based on a smart contract, which relates to the technical field of internet of things. A particular embodiment of the method comprises: deploying the smart contract to an internet of things device, performing a contract registration so as to and enable the smart contract to enter a monitoring state; and monitoring an external event by the smart contract, and switching, in a situation that the external event satisfies a trigger condition, the smart contract from the monitoring state to an executing state for internet of things payment; wherein the smart contract in the executing state still continues to monitor the external event. According to the embodiment, trusted payment, reliable user privacy protection and safe and convenient transaction payment are achieved.