Embodiments of the present invention provide a temperature compensation method and a crystal oscillator, where the crystal oscillator includes a crystal oscillation circuit unit, a temperature sensor unit, an oscillation controlling unit, a relative temperature calculating unit, and a temperature compensating unit. The temperature sensor unit measures a measured temperature of the crystal oscillation circuit unit; the relative temperature calculating unit obtains a temperature difference between the measured temperature and a reference temperature; the temperature compensating unit obtains a temperature compensation value corresponding to the temperature difference from a temperature-frequency curve; and the oscillation controlling unit generates a frequency control signal, according to a frequency tracked by a communications AFC device and the temperature compensation value, thereby controlling a frequency of the crystal oscillation circuit unit to work on the tracked frequency.