The invention discloses a hollow inclusion crustal stress telemetry system and a method and relates to the technical field of geology, energy, deep mineral products and underground geotechnical engineering reconnaissance survey. The hollow inclusion crustal stress telemetry system comprises a hollow inclusion strainometer and a telemetry master computer. A strain foil, an orientator, a gathering module, a transmitting module and a transmitting antenna are arranged inside the hollow inclusion strainometer which is used for measuring, gathering and transmitting strain and azimuthal angles. The telemetry master computer is composed of a receiving antenna, a receiving module, a signal processing module, a data processing module and a data outputting and displaying module. The telemetry master computer is used for receiving, processing and storing parameter information such as the strain and the azimuthal angles. Through wireless transmission long-distance telemetry, the hollow inclusion crustal stress telemetry system and the method have the advantages that the problems of the redundant wiring process of geostress survey, cable winding, drilling cooling and the like are solved, test efficiency and precision are improved, measuring cost is saved, capacity of resisting disturbance is strong, and instruments are easy and convenient to operate.