The invention relates to a livestock health dynamic monitoring system based on multiple physiological parameters. The monitoring system is an outside-wearing type device, health condition of livestock is calculated by adopting a BP neural network algorithm, body temperature, pulse and blood oxygen saturation are taken as input of a neutral network, and the health condition of the livestock is taken as output of the neutral network. The livestock health dynamic monitoring system comprises modules of a body temperature module, a pulse blood oxygen module, a signal conditioning module, a single-chip microcomputer, a communication module, a storage module, a power supply module, a substrate, a protection film, bundling belts and the like. Compared with the prior art, the livestock health dynamic monitoring system has the advantages that the pulse and blood oxygen saturation are detected by adopting reflection-type double wavelength, thereby being free of limitation of placement position of a sensor; by the outside-wearing type device, wound to animals by an implantable device is avoided, and the shortcoming that fault of the device cannot be timely maintained is overcome; in addition, small size, light weight and convenience in mounting and use are achieved, and interference cannot be caused to normal activities of the livestock.