The invention discloses a multi-factor-based industrial Internet of Things session key negotiation method which comprises the following steps that: a user stores personal information by using a smart card, communicates with intelligent equipment deployed in the industrial Internet of Things and Internet of Things nodes by connecting a mobile phone or other intelligent terminal equipment, acquires equipment state information in real time, and performs remote management and monitoring on the equipment. The method is based on the environment of the semi-trusted management center and more accords with reality, meanwhile, the pseudonym of the user is generated by the user and the server together, and the pseudonym of the user can be updated in real time after each key negotiation process, so that it is ensured that identity information of the user cannot be leaked, anonymity of the user is ensured, the non-linkability and the non-traceability are ensured, and the safety is improved. A key pre-distribution method is adopted, and based on a multi-factor authentication mode, namely biological characteristics, passwords and intelligent cards, main encryption operation is bit operation and a hash function, so that the calculation overhead and the communication overhead of a key negotiation scheme are reduced.