A vehicle running system based on rail transport, including a track, a framework, two levitation devices and a running device. The track is provided with a slot, in which the framework is provided. The levitation devices are provided between the track and the framework, and a top surface of the levitation device is fixedly connected to a bottom surface of the framework through a suspension structure. The running device includes two conductor plates and two running structures. The conductor plates are fixedly arranged on the inner wall of the slot, and are corresponding to the running structures. The reluctance force of magnetic wheels is converted into a driving force to drive maglev vehicles, and the levitation force is converted into a guiding force to realize the self-stabilization of vehicle guidance. A vehicle running method based on this system is also provided.