The invention discloses a gas-water two phase flow multiparameter measuring method and a device thereof, wherein the device comprises a measuring pipe, a throttling element, a differential pressure transmitter, an array conductivity sensor, a pressure transmitter, a temperature transmitter, a conductivity measuring and collecting circuit, a data acquisition circuit and a computer; the array conductivity sensor is connected with the computer through the conductivity measuring and collecting circuit; and each transmitter is connected with the computer through the data acquisition circuit. According to the differential pressure obtained by the throttling element, the conductivity signal obtained by the array conductivity sensor, the pressure obtained by the pressure transmitter, and the temperature obtained by the temperature transmitter, a plurality of parameters such as flow pattern, void ratio, dryness, flow rate and the like of the gas-water two phase flow are obtained. In the measurement, according to the flow pattern judgement result, a corresponding measurement model or relational expression under the flow pattern is selected to calculate the void ratio, dryness and flow rate. The invention has simple structure, small loss of pressure, high reliability, low cost and wide range of application, and can be applied to the gas-water two phase flow measurement in the fields of energy, power, chemical engineering and the like.