The invention provides a rotary shaft of a rotary workpiece with voltage and temperature measuring signal being conducted in a co-shaft mode and an installation method. The rotary shaft of the rotaryworkpiece with voltage and temperature measuring signal being conducted in the co-shaft mode comprises a hollow shaft, an insulating sleeve, a thermocouple conducting wire, a connector, an insulatingflange A, an outer connector, a thermocouple, a workpiece desk end connector, an insulating flange B, a chamber penetration mechanism, a thermocouple upper end connecter, a driving wheel and an electric brush sliding ring; the insulation sleeve is arranged in the hollow shaft, the thermocouple conducting wire penetrates through the insulation sleeve, the thermocouple upper end connecter is connected to one end of the thermocouple conducting wire, and the connector is connected to the other end of the thermocouple conducting wire; the thermocouple upper end connecter is connected with the workpiece desk end connector, the workpiece desk end connector is connected with the thermocouple through a conducting wire, and the connector is connected with the outer connector through the flange A; and the hollow shaft penetrates through the insulating flange B, the chamber penetration mechanism, the driving wheel and the electric brush sliding ring. The rotary shaft is capable of realizing the co-shaft conduction of the voltage and the temperature measuring signal, and meanwhile, the problems of the mutual interruption between bias voltage and temperature measurement and the vulnerability ofdividedly transmitted thermocouples are solved.