The invention discloses a 1553B bus monitoring system which comprises a 1553B bus isolation transformer, a 1553B bus transceiver and a programmable logic device. After a 1553B bus passes through the 1553B bus isolation transformer and the 1553B bus transceiver, a pair of logically complementary digital signals are output; filter shaping, code stream extraction and protocol analysis and processing are conducted on the input digital signals through the programmable logic device and extracted word information and timestamp information of the 1553B bus are written in a computer memory. With regard to normal 1553B bus transmission, all command word information, control word information, data word information and interval time information of the adjacent words can be monitored and recorded by the monitoring system, wherein the command word information, the control word information, the data word information and the interval time information of the adjacent words are transmitted on the 1553B bus. With regard to abnormal 1553B bus transmission, when a bus transmission abnormality occurs, a bus fault type, a fault occurrence time point and recorded position information when a fault occurs can be monitored and recorded by the monitoring system.