The invention relates to the field of heavy machine monitoring technologies, in particular to a LabVIEW-based health state intelligent monitoring system and method for a large track traveling device. The system and method are developed for overcoming the defects that the large track traveling device is bad in working environment, large in load bearing, and poor in lubrication protection and are used for monitoring parameters such as currents of a drive motor, power of the drive motor, the rotating speed of a drive wheel, tension force, the rotating speed of a weight supporting wheel shaft and the temperature of the weight supporting wheel shaft. The current health state of equipment is given according to the intelligent monitoring system, light and sound alarm is given to corresponding failure items, and failure sources are pointed out. The health state intelligent monitoring system is mainly composed of a drive wheel monitoring module (I), a guide wheel monitoring module (II), a weight supporting wheel monitoring module (III), a router, a computer and a displayer. The drive wheel monitoring module (I), the guide wheel monitoring module (II) and the weight supporting wheel monitoring module (III) are respectively arranged on corresponding positions of the large track traveling device and are connected with the computer in a cab through the Ethernet.