This invention relates to external modulator monitoring device and method for monitoring an external modulator. The external modulator monitoring device includes a mixing unit for mixing optical signals modulated by the external modulator and optical signals not modulated by the external modulator, so as to obtain multiple branches of mixed optical signals; an electrical differential unit for converting the multiple branches of mixed optical signals into corresponding multiple branches of electrical signals, and performing a differential processing on voltages of the multiple branches of electrical signals to obtain differential signals; and a power detection unit for detecting power of the differential signals.