The invention discloses a normalizing multiprocessor electric power metering method, which comprises the following steps of: with T seconds as a sampling period, simultaneously sampling and quantifying a voltage to be measured and a current to be measured by a master processor at regular time, to obtain voltage sampled data and current sampled data at a same moment, and calculating a direct-current power p0; and in N slave processors, setting a value of a positive integer K, setting values of N*2k frequencies to successively increase progressively and each to be a positive number no greater than 2pi/T, obtaining estimated frequencies omega11, omega12,..., omega1k, omega21,..., omegaNK using an iterative method, and calculating active powers p11, P12,..., P1K, p21,..., pNK, reactive powers q11, q12,..., q1K, q21,..., qNK, apparent powers s11, s12,..., S1K, S21,..., SNK, and power factors c11, c12,..., c1K, c21,..., cNK. As the iterative method is used to meter the electric power, the normalizing multiprocessor electric power metering method can be directly applied to a computer system and has relatively high precision and relatively fast convergence rate.