An intelligent traffic management system based on inter-vehicle network comprises a wireless communication module, a calculation module, a control module, a traffic light signal display module, a storage module and a fault detection module; the system is communicated with an inter-vehicle network managing device on a vehicle by the wireless communication module, and calculates traffic flow and vehicle density at an intersection via combining with the algorithm in the calculation module. The technical scheme of the invention can effectively solve the technical problems that the traffic signal control system in the prior art can not obtain the traffic flow and the traffic speed precisely, so as to cause low road passing-through efficiency, and energy sources and time are wasted; the traffic information of the vehicles at intersections can be precisely obtained, so as to adjust the time of the traffic lights in time and improve the road passing-through efficiency; the speeds of special vehicles like fire trucks, ambulance and the like are ensured; the function of automatic fault detection is provided; the time of the traffic lights at intersections is optimized; and the traffic efficiency is improved.