The invention provides an LORA-based deformation monitoring system with high precision positioning. The system comprises monitoring terminal equipment, an LORA transceiver module, LORA base stations, a server, and a cloud platform. The monitoring terminal equipment is equipped with navigation information units which can receive navigation information and original observation data, LORA transceiver modules, solar panels, and storage batteries. The LORA base stations are deployed in a service range with the need of coverage. The server receives the original observation data uploaded by a plurality of monitoring terminal equipment from the LORA base stations, a double-difference solution mode is used, on the basis of optimizing a carrier phase differential data processing method, the phase data of reference station and monitoring terminal equipment carriers are processed at the same time, and the accurate deformation of a monitoring point relative to the reference station is obtained. The cloud platform comprises data processing, analysis and management units. The LORA-based deformation monitoring system has the advantages of a wide coverage, high expansion ability, a short construction period, safe use and low use cost.