A broadcast playback system comprises a computer and a broadcast playback apparatus being connected to each other via a serial bus module. The computer loads predetermined control codes stored in the broadcast playback apparatus, performs the predetermined control codes to display a control menu. The broadcast playback apparatus plays a broadcasted program when receiving a play command generated by the computer according to a play input on the control menu. The broadcast playback apparatus stores the broadcasted program thereby generating a broadcast file when receiving a store command generated by the computer if a store input on the control menu. The broadcast playback apparatus replays a selected broadcast file when receiving a replay command generated by the computer according to a selection input of the selected broadcast file on the control menu. Moreover, a related broadcast playback method is further provided.