The invention relates to a laser radar coaxial transmitting and receiving system and a coaxial adjustment method thereof and belongs to the technical field of laser radar, and the method can be used for solving the problem that the coaxial adjustment period of a laser radar receiving and transmission light path is long. The laser radar coaxial transmission and receiving system is composed of a laser device, a transmission telescope, a first reflecting mirror, a second reflecting mirror, a receiving telescope, a concave lens, a convex lens, a beam splitter, an optical fiber, a CCD (Charge Coupled Device) camera, a computer and a motor rotation control system. The coaxial adjustment method based on the system comprises the following steps: adjusting the visual field definition of the receiving telescope; when the receiving telescope receives background light, obtaining a standard centroid position acquired by the CCD camera; starting the laser device, calculating the real-time centroid position of an image acquired by the CCD camera in real time, and calculating the deviation between the two centroid positions; and controlling the pitching and bearing of the first reflecting mirror until the deviation reaches an error tolerance, thus realizing the coaxial adjustment. The method provided by the invention is applicable to the coaxial adjustment of a laser radar receiving and transmission system.