The invention discloses a video measuring device and method by track geometric parameters instead of the chord-line method, comprising a measuring car for track videos, two video cameras, a small measuring car, a dynamic electronic inclinometer, and a computer. Reference marks are made on the measuring car for track videos, and marks to be measured are made on the small measuring car. The measuring method is as follows: two video cameras are respectively used to collect the sequential images of marks to be measured and reference marks; the dynamic electronic inclinometer is used to measure the level dip angles; sub-pixel location is carried respectively on the marks to be measured and the reference marks; according to the sub-pixel coordinate of geometric centers of the marks to be measured and the reference marks and according to the synthetic method of track geometric parameters, height, track direction, track gauge, and level are calculated and results are output at real time. The video measuring device and method has the advantages of thoroughly solving the measurement errors due to looseness of chord-line in the general measurement method, improving the measuring accuracy, facilitating the reconstruction and lowering the cost.