The invention relates to a lake water volume space-time change analysis method and device based on multi-source satellite data, and the method specifically comprises the steps: S1, obtaining a research region image of a lake through a satellite, preprocessing the research region image, obtaining an image classification map, and obtaining the lake water level through the satellite; and S2, obtaining time series data of the lake water quantity according to the image classification map of the lake and the lake water level, inputting the research area image of the small lake into a KELM model to obtain an image classification map, and inputting the research area image of the large lake into a trained SVM model to obtain an image classification map; the training process comprises the followingsteps: collecting an experimental area image, dividing pixel points on the experimental area image into a water body and a non-water body to form a training sample, training a KELM model and an SVM model by using the training sample, and performing parameter optimization on the KELM model by using a PSO algorithm. Compared with the prior art, the method has the advantages of good stability, good robustness, high efficiency and the like.