The invention provides an install and play-type online monitoring realization system and method. The install and play-type online monitoring realization system comprises online monitoring nodes, a wireless communication gateway and a control software system, wherein the control software system is used to adopt a dynamic encryption method to perform connection security verification on each online monitoring node through the wireless communication gateway, acquisition of a parameter key and an instruction key is included, and the data communication security is improved; and the online monitoringnodes comprise a collector, a data conversion module, a pre-buffer, a processor, a communication buffer, a wireless transmission module, a battery system and a reset circuit. The install and play-type online monitoring realization system and the method have the advantages that the health statuses of power devices in a substation and a power supply station area can be monitored in real time, and install and play for online monitoring can be realized; through rapid construction of an information acquisition device on the spot, remote and real-time monitoring on the power device can be realized,the operation efficiency of the system can be improved, the manpower and the material resources can be reduced, and the cost can be saved; and thus, the arrangement speed is quick, the system networking is flexible, the cost is low, the power consumption is low, and the extensibility is strong.