The present invention relates to the technical field of motor calibration, and relates to a calibration method and device for a voltage limit ellipse, a terminal, and a storage medium. The present invention comprises: selecting at least two target points from points on a calibrated current limit circle of a target motor, and determining at least two rotating speeds according to the at least two target points; for each rotating speed, by adjusting a calibration current vector in the current limiting circle at least twice, determining at least two current vectors corresponding to the rotating speed; setting the target motor at least twice according to the rotating speed and the at least two current vectors, and running the target motor after each setting; and determining a voltage limit ellipse corresponding to the rotating speed according to the current vector set when the working efficiency of the target motor reaches preset efficiency and the target point corresponding to the rotating speed. Since embodiments of the present invention provide a novel calibration method for a voltage limit ellipse, the method for calibrating the voltage limit ellipse is extended.