The invention discloses a parking management system and method based on the Internet of things. The system comprises a cloud platform, a graphical parking lot management platform, a first mobile terminal and a second mobile terminal; the graphical parking lot management platform comprises a parking lot entity graphical interface display module, parking stall locks and a parking stall monitoring assembly, the parking stall locks upload state information of parking stalls automatically, and the parking stall monitoring assembly issues parking stall information to the cloud platform; and the cloud platform manages parking stall information, transaction and users, and provides a navigation service. When an owner of a certain parking stall issues vacancy information of the parking stall via the first mobile terminal, a user reserves the parking stall via the second mobile terminal, the parking stall is locked by the unique user after reservation succeeds, when the user arrives at the parking lot and enters parking lot after identity recognition, the user is autonomously or automatically navigated to the preserved offline parking stall, and the system carries out electronic settlement automatically after use. Thus, the value of limit resources is maximized.