The invention discloses a method for setting the vertical roll gap by centering side guide plates, measuring the width and correcting, comprising the following steps: receiving the size information of a steel plate by a secondary control system of a rolling mill, and calculating the pass plan, and judging whether a vertical column is used or not, wherein if the vertical column is used, the vertical-column pass process is carried out, and if the vertical column is not used, the non-vertical-column pass process is calculated. In the process of carrying out the vertical-column pass process, the width of the stretched and rolled steel plate is calculated, the steel plate is stretched and rolled according to the calculated width, and a side guide plate is centered. In the process of carrying out the non-vertical-column pass process, the width of the stretched and rolled steel plate is calculated, the steel plate is stretched and rolled according to the calculated width, and the side guide plate is centered, wherein in the process of centering the side plate, when the clamping force reaches the preset value, the opening degree of the side guide plate is measured and used as the actually-measured width, the actually-measured width is compared with the calculated width, and the vertical roll gap and the rolling force are adjusted according to the actually-measured width and the calculated width.