PROBLEM TO BE SOLVED: To provide a meandering correction device and a meandering correction method of a steel strip which can adequately exert meandering correction capability even when the pass line of the steel strip is changed by operational conditions in a continuous passing line of the steel strip.SOLUTION: In the meandering correction device, electromagnet out-of-plane direction mechanisms 5 and 6 that move electromagnets 3 and 4 in an out-of-plane direction of the steel strip 1 are used to correct meandering while moving the positions of electromagnets 3 and 4 in the out-of-plane direction of the steel strip corresponding to the looper capacity. Concretely, the relation of the looper capacity and the path line change of the steel strip 1 is formulated beforehand, the path line change is calculated from the looper capacity input to a manipulation amount calculation unit 9, and the positions of the electromagnets 3 and 4 in the out-of-plane direction of the steel strip are controlled so as to counterbalance the path line change.