The invention provides a telemetry data interpretation method and device, computer equipment and a readable storage medium. The method comprises the following steps: establishing an interpretation rule file; establishing a target interpretation network according to the interpretation rule file; obtaining target telemetry data to be interpreted; inputting the target telemetry data into the target interpretation network for interpretation, and obtaining an interpretation result; according to the method, the interpretation rule of the data is established, and the corresponding interpretation network is established and updated according to the interpretation rule, so that the rocket telemetry data acquired in real time is judged through the interpretation network, and the corresponding judgment result is obtained; therefore, dynamic configuration and automatic interpretation of rocket telemetry data rules and real-time release of interpretation results are realized, the problems of telemetry data omission and misjudgment caused by manual interpretation in the prior art are effectively solved, the data interpretation efficiency is high, the precision is high, the timeliness is good, and the host deployment cost and the labor cost are also reduced.