The present invention provides a displacement monitoring system for a tower, the displacement monitoring system includes a tower displacement monitoring terminal and an underground displacement monitoring terminal electrically connected to the tower displacement monitoring terminal, the tower displacement monitoring terminal is arranged on the tower and includes a main control module, an overground tower displacement sensor, a power supply module and a communication module, wherein the overground tower displacement sensor, the power supply module and the communication module are electrically connected to the main control module respectively, the underground displacement monitoring terminal is arranged on an underground bedrock and includes a controlling module and an underground displacement sensor electrically connected to the controlling module. According the technical solution, displacement sensors are used to monitor the displacement values of the tower and the bedrock respectively, then the displacement value of the tower relative to the bedrock is computed based on the displacement values of the tower and the bedrock, this technical solution overcomes the one-sidedness of only monitoring the incline angle of the tower, and is a more comprehensive monitoring solution. Thus the displacement value of the tower can be accurately monitored on line, the actual state of the tower can be monitored, and therefore it is beneficial for further plan and build of national grid.