The invention relates to a dynamic password intelligent unlocking system, which comprises a user terminal, an intelligent lock and a dynamic password server. The user terminal comprises a display module, a processing module I, a communication module I and a storage module 1, the intelligent lock comprises a processing module II, a communication module II and a storage module II, the dynamic password server comprises a processing module III, a communication module III and a storage module III. The invention also relates to a dynamic password intelligent unlocking method, and the method respectively generates password corresponding to the user terminal and the intelligent lock. By using the generated dynamic password method and the corresponding dynamic password of the invention, the password does not need to be replaced frequently, the calculation method for updating the password is simple and convenient, and if the dynamic password is stolen in the transmission process, the real dynamic password content cannot be obtained because the calculation and conversion rules cannot be obtained, so that the security of authentication and transmission is improved.