A synchronous monitoring device and a method for radial and axial vibration of a shearer drum. The monitoring device includes a laser, a first optical fiber coupler, an optical isolator, a second optical fiber coupler, a third optical fiber coupler, an optical fiber collimator, a first photodetector, a second photodetector, a first signal processing module, and a second signal processing module which are disposed on a shearer ranging arm, as well as a reflective coating disposed on a shearer drum. By measuring a phase difference between original light and reflected light, axial vibration of the shearer drum is monitored, and by measuring an intensity difference between original light and reflected light, radial vibration of the shearer drum is monitored.