The invention provides a defect and stress non-destructive detection system and non-destructive detection method based on pulsed eddy current and Barkhausen, belonging to the field of non-destructive detection. The system includes an excitation signal generator, a digital-to-analog converter, a power amplifier, an excitation coil, a Hall sensor, a signal amplification circuit, a data acquisition card and a computer. On the basis of eddy current detection, the present invention uses a mixed wave of a rectangular wave and a triangular wave as an excitation signal for ferromagnetic materials. The rectangular wave band in the first half of the mixed signal produces a pulse eddy current phenomenon, and the triangular wave band in the second half produces a Barkhausen effect. , use the signal time domain averaging method to process the signal in segments, realize the separation of the eddy current signal and the Barkhausen noise signal, and extract the feature and data processing of the signal separately, so as to realize the simultaneous online detection of the surface defects, stress and microstructure state of ferromagnetic materials , and realize the identification of hidden defects of ferromagnetic materials and the prediction of unformed defects and life. The invention can work reliably for a long time, has high sensitivity, simple method, intuitive display, high efficiency and feasibility, and the like.