The invention discloses an injection mold cavity pressure control system and method. The injection mold cavity pressure control system comprises a high-pressure nitrogen source, wherein the high-pressure nitrogen source is connected with a mould air inlet through a pipeline, a first pressure reducing valve is arranged on the part, which is close to the high-pressure nitrogen source, of the pipeline, the pipeline is divided into two paths after passing through the first pressure reducing valve, one path is connected with an air control regulating valve through a second pressure reducing valve, a first pressure meter and an electronic pressure controller, the other path is connected with the air control regulating valve through a second pressure meter, the outlet of the air control regulating valve is connected with the mould air inlet, a third pressure meter, a pressure sensor and a pressure relieving pipeline unit are sequentially arranged on the pipeline, the electronic pressure controller, the pressure relieving pipeline unit and the pressure sensor are connected with a data processing and controlling system, and the data processing and controlling system is connected with an injection molding machine signal unit. The invention also discloses a control method of the injection mold cavity pressure control system. The injection mold cavity pressure control system has the characteristics of high pressurizing rate and pressure relieving rate of a mould cavity, capabilities of maintaining high pressure of the mould cavity and controlling the acting time of the high pressure of the mould cavity, and the like.