Provided is a rotating machine parameter telemetering method and a system based on the wireless laser communication, including a rotor 1, a wireless laser communication transmitting module 2, a wireless laser communication receiving module 3, a signal transferring module 4, an optical fiber communication transmitting module 5, an optical fiber 6, a computer 7 with an optical fiber interface, a high speed cable 8 and a signal coding module 9 and the like. On the rotor, the wireless laser communication transmitting module performs the electro-optical transmission to the remote control data after being coded, on the ground, the wireless laser communication receiving module performs the electro-optical transmission to the received optical signals to obtain the remote metering signal without being coded, and further the signals are transmitted to the computer for coding and analysis through the signal transferring module, the optical fiber communication transmitting module and the optical fiber. The invention has the advantages of non-contact measurement, high data transmission rate, no electromagnetic interference and high reliability, which can satisfy the high speed parameter telemetering requirement of the rotating machine, such as the aeroengine and the like.