The invention discloses an IGBT fault monitoring device and method. The device comprises a DC voltage-stabilizing power supply, a PWM control module, an IGBT drive module, an IGBT, a data collection module, and an upper computer. The reasonable design of connection relation among all parts of the monitoring device and a signal flowing direction facilitates the achieving of a purpose that the monitoring device carries out the fault monitoring of the IGBT. In addition, the upper computer can record the number of fault times of the IGBT, takes the fault rate as the basis, and judges what working state the IGBT is located. When the IGBT is in an intermittent fault state, the monitoring device just gives a fault alarm. When the IGBT is in a permanent fault state, the monitoring device carries out the service life warning, and reminds the replacing of the IGBT. The device and method can effectively monitor the fault type of the IGBT, reveal the relation between an intermittent fault accumulative effect and a permanent fault, predict the happening of the permanent fault, determine an optimal replacement moment for a maintainer, avoid aimless replacement, and save the maintenance cost.