The invention relates to a real-time correction method for a rotor time constant of a three-phase asynchronous motor. An excitation mutual inductance lookup table and a rotor resistance temperature lookup table are established, the excitation mutual inductance Lm is queried according to excitation current, the excitation mutual inductance Lm and the rotor leakage inductance Lsigma are added to obtain the rotor inductance Lr, the rotor resistance Rr is queried according to the stator winding temperature of the motor, namely the rotor temperature, and the rotor time constant can be calculated according to the rotor inductance Lr and the rotor resistance Rr, and thus the real-time correction of the rotor time constant is realized. According to the scheme of the invention, the real-time correction method for the rotor time constant is easy to implement in engineering, the influence of the rotor temperature on the rotor resistance is considered, and the influence of flux saturation on the rotor inductance is also considered; the scheme is not only applicable to the operation area within the base speed of the motor, but also to the high-speed flux weakening area of the motor; and moreover, the rotor time constant of the three-phase asynchronous motor can be corrected in real time, the rotor field orientation accuracy, torque control accuracy, flux weakening control stability and system operation efficiency can be improved, and the dynamic and static performance of vector control can be improved.