The invention discloses a print monitoring system and a method for a universal printer. The print monitoring system comprises a print control unit, a virtual printer driver, a server and a plurality of physical printers. The print monitoring method comprises the specific steps of: 1, mounting the print control unit and the virtual printer driver, 2, setting a key word, 3, monitoring print operation of a user, 4, forming a new print document name, 5, selecting the physical printer, 6, starting the print operation, 7, recording a print content text, 8, embedding a plaintext watermark and a two-dimensional code, 9, sending the print document, and 10, recording the key word. According to the system and the method, the physical printers are controlled on the premise of not changing allocation of the client printers, and a method effectively auditing the print content and tracing a document source is provided by checking and processing the print content.