The invention relates to a device and a method for measuring magnetic induction intensity, in particular relates to a device and a method for measuring the magnetic induction intensity based on colossal magnetoresistance effect. The measuring device comprises an electromagnetic shielding device, a first loop and a second loop, wherein, the first loop comprises a colossal magnetoresistance device,a Helmholtz coil and a first power supply device; and the second loop comprises a Huygens electrical bridge and a second power source device. In the invention, the distinct effect of the colossal magnetoresistance effect is utilized, and the Helmholtz coil is adopted to provide the reversed magnetic field for balancing the magnetic field to be detected, when the Huygens electrical bridge is in balance, the numerical value of the magnetic field to be detected is equal to that of the Helmholtz coil, but the direction is reverse; and the resistance of a colossal magnetoresistance device needs not to be calculated, thus the accuracy and the precision of calculation is improved; the electromagnetic shielding device is adopted to shield the environmental magnetic field, thus the measuring environment with zero magnetic field intensity is provided, and non-interference basic parameters are provided for the follow-up measurement, thereby being beneficial for improving the accuracy of measurement.