The invention discloses a density evolution based polarization code constructing method and polarization code coding and decoding system. According to the invention, the code length N and the information bit length K of an information code to be processed are obtained, an expectation value set of a log-likelihood ratio probability density function of N bit channels, K bit channels are selected as the information bit channels according to the expectation value set and information bit information index vector quantity is generated; an information bit sequence and a fixed bit sequence are mixed and the mixed bit vector quantity is multiplied by a polarization code for generating a matrix so as to output an encoding sequence; the encoding sequence is modulated and input into a transmission channel and the sequence output by the transmission channel is subjected to decoding operation by adopting a polarization code decoding algorithm, bit error probability and frame error rate of the decoded code are calculated and a design signal to noise ratio is changed, the above operation is repeated until the bit error probability and frame error rate become the minimum. The method and system provided by the invention are suitable for general binary system memoryless channels, the bit error probability and frame error rate are low, the calculation complexity is low and the communication performance of a communication system is improved.