The invention discloses an interferometry-based optical fiber Verdet constant measuring system. The system comprises an ASE (amplified spontaneous emission) light source, a single-mode optical fiber coupler, a Y-waveguide integrated optical modulator, 1/4 wave plates, Faraday rotator mirrors, a solenoid, a sine alternating-current driving circuit, matching fluid, a probe, an information processing module, a computer and measured optical fibers. The ASE light source, the single-mode optical fiber coupler, the Y-waveguide integrated optical modulator, the measured optical fibers and the Faraday rotator mirrors are connected through optical fibers in sequence. Each 1/4 wave plate is arranged between the Y-waveguide integrated optical modulator and the corresponding measured optical fiber. A signal processing portion comprises a feedback servo circuit, an FPGA (field programmable gate array) module and a phase modulation driving circuit. The system is of an all-optical-fiber structure and simple and convenient to set up; by the aid of the Faraday rotator mirrors, influences of linear birefringence of the optical fibers on measurement can be eliminated, and measurement accuracy is improved; and Verdet constants of various optical fibers can be measured by the system.