The invention discloses a pond water power forming device and method. The pond water power forming device comprises a floating body which is of a diving type structure and is adjustable in buoyancy, a speed reduction box, a motor, surge blades and a water lifting impeller. A water lifting rotating shaft and a surge rotating shaft are arranged at the output end of the speed reduction box and rotate in a differential mode, the rotating speed of the water lifting rotating shaft is higher than that of the surge rotating shaft, the water lifting impeller is connected with the water lifting rotating shaft, the surge blades are connected with the surge rotating shaft through a connecting frame, and the surge blades and the connecting frame are rotationally connected. The pond water power forming device is compact in structure and easy to operate, integrates the water power and oxygenation functions, and is capable of being automatically started and stopped and saving energy to the maximum in the oxygenation process under the three conditions of the most suitable oxygen concentration, the maximum water oxygen dissolving capability and an alerting oxygen dissolving concentration of pond culture, good in oxygenation effect and capable of ensuring uniformity of the water oxygen concentration of all parts, pond water composite and low-energy consumption water power formation and oxygenation are achieved, and the motor and the normal life of fishes are well protected.