The invention discloses a holographic three-dimensional display method and a holographic three-dimensional display device based on a spatial light modulator; the display device is composed of a laser light source, a polarization modulation component, a beam splitter prism, a spatial light modulator, a computer, a lens, and a pixel-type nano grating based directional diffraction screen; and the display method comprises the following steps: obtaining a multi-view two-dimensional image of a target object and undergoing preprocessing conversion process to generate a group of image arrays used for phase type hologram calculation; calculating corresponding phase type holograms with an iterative Fourier transform algorithm, loading the holograms to the spatial light modulator, and irradiating the holograms with the laser light source to obtain holographic reproductive images; and designing and manufacturing the pixel-type nano grating based directional diffraction screen, and directionally diffracting corresponding reproductive image pixels to fixed positions to form different viewpoints. The method and the device disclosed by the invention, by combing with fast refreshing and loading of the spatial light modulator for the holograms, realize multi-view full-parallax dynamic holographic three-dimensional reproduction of the target object, and provide a feasible scheme for application of a naked-eye three-dimensional display technology.