The invention provides a real-time range measurement system based on quantum entangled light. The real-time range measurement system comprises a light source module and a circuit module, wherein the light source module is used for generating signal light and reference light; the circuit module is used for calculating a distance to be measured based on the input signal light and reference light. The light source module comprises a semiconductor laser, a filter, a one-quarter wave plate, a half-wave plate, a polarizing film, a periodically polarized crystal and a polarization beam splitter, wherein the semiconductor laser is used for generating pump light which is orderly incident into the one-quarter wave plate, the half-wave plate, the polarizing film and the periodically polarized crystal and then filtered out by the filter, and meanwhile, H polarized light and V polarized light are generated; the polarization beam splitter is used for separating out the signal light and the reference light from the H polarized light and the V polarized light. The invention also provides a corresponding method. The anti-jamming characteristic of the real-time range measurement system based on quantum entangled light is improved by use of a second-order association algorithm; besides, the real-time range measurement system is capable of realizing real-time data processing by use of FPGA (Field Programmable Gate Array), and therefore, data acquisition and data processing can be carried out simultaneously.