The invention discloses a fair network flow control method and device, and the method comprises the steps of: (1) when a packet with the length of 1 arrives, determining whether to allow the packet to pass by a flow controller according to the token occupation amount of a flow to which the packet belongs and the number of tokens in a current global token bucket; if the packet is allowed to pass, increasing the token occupation amount of the stream by 1 through a Count-min Sketch; if the packet is allowed to pass and the token occupation amount of the stream to which the packet belongs is 0 before the packet arrives, inserting the stream into the tail part of the active stream linked list; and (2) generating the tokens at a preset speed, when the tokens are generated, adding 1 to the number of the tokens in the global token bucket, then taking out a stream from the head of the active stream linked list, reducing 1 to the number of the tokens occupied by the stream through a Count-min Sketch structure, and at the moment, if the token occupation amount of the stream is greater than 0, re-inserting the stream into the tail of the active stream linked list. According to the method, the tokens can be fairly allocated to each active flow, so that each flow passing through the flow controller fairly shares bandwidth resources.