The invention relates to a continuous online CO2 monitoring system and method for underground fluids. The continuous online CO2 monitoring system comprises a gas inlet, a first solenoid valve, a dehumidification restorable pipe, a second solenoid valve, an array type infrared CO2 sensor, a third solenoid valve, an electromagnetic pump, a fourth solenoid valve and a gas outlet which are connected sequentially through a pipeline, wherein one end of a drying and filtering pipe is connected with the second solenoid valve through the pipeline, and the other end of the drying and filtering pipe is connected with the fourth solenoid valve through the pipeline; the dehumidification restorable pipe, the array type infrared CO2 sensor, the electromagnetic pump and the four solenoid valves are electrically connected with a master control unit respectively. The monitoring method comprises the following steps: the master control unit controls a communication channel of the four solenoid valves, and a monitoring gas channel, a cleaning gas channel and a dehumidification restoring channel are formed. With adoption of the monitoring system and method, wide-range continuous monitoring of CO2 concentration in a high-humidity environment is realized, various filter and compensation means are adopted, the anti-interference performance is good, errors are reduced effectively, the monitoring precision is high, the stability is good, and effectiveness of earthquake prediction is improved.