The invention discloses a novel AGV two-dimensional code navigation system and its application, including an AGV trolley, several image projection components and an AGV control system; wherein, the image projection component is installed on the top of the working scene of the AGV trolley for converting the two-dimensional The code image is projected according to the specified direction; one side of the AGV trolley is connected to the first rotating arm, the other end of the first rotating arm is connected to the second rotating arm, and the other end of the second rotating arm is connected to the third rotating arm. Arm, and the first drive motor, the second drive motor, and the third drive motor for driving the first, second, and third arms to rotate are respectively installed at the three rotating joints; the third arm is installed There is a first camera, a retractable projection panel is installed on the first rotating arm, and an effective identification area is depicted on the projection panel; the first drive motor, the second drive motor, the third drive motor and the first camera are all connected to the AGV trolley. The main control system is electrically connected. The invention has the characteristics of convenient maintenance of the two-dimensional code.