The invention discloses a microwave source phase noise measuring device based on a bidirectional optical phase modulator, which comprises a microwave power divider, a laser, an optical circulator, a first branch, a second branch, an optical coupler, a photoelectric detector and a signal analysis device. A bidirectional optical phase modulator, a first fiber bragg grating and a single-mode fiber are sequentially arranged in the first branch, a second fiber bragg grating and an adjustable optical delay line are sequentially arranged in the second branch, the optical circulator is provided with three ports, and the three ports are respectively connected with the laser, the bidirectional optical phase modulator and the second fiber bragg grating. According to the invention, the single bidirectional optical phase modulator is utilized to realize a full-optical-domain frequency mixing function, so that the use of an electric frequency mixer is avoided, and the use of active devices such as a microwave amplifier is reduced. The device has the advantages of simple structure, low cost, large working bandwidth and flat response, the noise floor of the phase noise measuring system is reduced, and the measuring precision and sensitivity are improved.