The invention belongs to the technical field of integrated circuits, in particular to a method and device for compressing and decompressing simulated waveforms of integrated circuits. For the compression method, firstly, the input analog waveform data stream is divided into time slices according to the characteristics of the simulation time, and for each time slice, I frame and P frame are divided, and the zero value storage operation is performed on the I frame; for the P frame , calculate the residual with the I frame, then perform quantization, adaptive arithmetic coding, and store. The decompression process is the reverse of the compression process. The device includes an input unit, an output unit, a program storage unit, an external bus, a memory, a storage management unit, an input-output bridge unit, a system bus and a processor; compression and decompression programs are stored in the program storage unit. The invention compresses the analog waveform, can effectively reduce the occupied storage space, and achieves a high compression ratio with very low computational complexity.