The invention relates to the field of intelligent security and protection, in particular to an identity verification system based on a smart phone and a method thereof. In order to solve the problems that a receiver is too large in size and too high in cost, passwords are peeped and the safety is poor, the invention provides an identity verification system based on a smart phone, and the identity verification system comprises a receiving device, a mobile phone terminal, a storage module, a relay, an electromagnetic lock, a background server and an LED indicating lamp; the receiving device comprises a microprocessor, a Bluetooth module and a GSM module; the identity verification method based on the smart phone comprises the steps of user registration, identity information collection, data transmission and data verification, user identity information is collected through a mobile phone terminal, identity coding data is transmitted to a receiving device in a Bluetooth or GSM communication mode, and verification of the user identity is completed through a microprocessor. The machine has the advantages of being multifunctional, simple in structure and good in implementation effect.