The invention provides a slurry shield model test mud cake thickness real-time measurement device which structurally comprises an air compressor, a valve A, a pressure regulating valve, a valve B, a sludge barrel, sludge, a valve C, a glass barrel, a valve D, a measuring cylinder, filtrate, an electronic balance, a computer, hoses and a valve E, wherein the air compressor is connected with the sludge barrel through the hoses, the valve A, the pressure regulating valve and the valve B, the sludge barrel is connected with the glass barrel through the hoses and the valve C, the glass barrel is connected with the measuring cylinder containing the filtrate through the hoses and the valve D, the measuring cylinder is placed on the electronic balance, the electronic balance is connected with the computer through a serial data cable, the valve E is connected with the glass barrel, and the sludge is placed in the sludge barrel. A real-time measurement method includes the steps: (1) preparing the sludge, a stratum layer and a filter layer; (2) measuring the thickness of a mud cake in real time. The device has the advantage that the thickness of the mud cake can be measured by probe pressure in real time conveniently and accurately.