A valuable document identification method and system are provided. The method comprises, detecting features in different space ranges of a valuable document, and obtaining multi-source information Ω={Xi, Xj, . . . , Xn}, wherein Xi∩Xj≠φ, or Xi∩Xj≠φ and Xi<=>Xj; labeling the space position of Xj with Xi according to semantic constraints of Xi and Xj, and obtaining position constraints Ψij(x, y); extracting a characteristic value fi from Xi, and extracting a characteristic value fj from Xj according to the position constrains Ψij(x, y); determining whether fi, fj meet the characteristic criteria of the valuable document, if yes, then receiving the valuable document, or else, rejecting the valuable document. The method enables improved reliability and robustness of the valuable document identification system.