The invention discloses an ACS710 based frequency converter overcurrent protection circuit and method. The circuit comprises a frequency converter, a fault pull-up resistor, an enabling pull-up resistor, a first comparator, a second comparator, an eleventh resistor, a fourth resistor, a triode, a voltage stabilizing tube and a hardware lockout sub-circuit, wherein the first comparator is used for comparing pull-down voltage of a chip overcurrent fault pin with a reference voltage value, the second comparator is used for level overturn protection on overcurrent. The hardware overcurrent protection circuit is designed according to overcurrent signals of the overcurrent fault pin of an ACS710 Hall, so that a primary short-circuit priority protection circuit is added by output of the frequency converter, circuit protection signals are directly transmitted to the hardware lockout sub-circuit without being processed via a CPU (central processing unit) so as to shield drive PWM (pulse-width modulation) signals, delay of the circuit only includes ACS710 fault detection delay and overturn delay of the second comparator, delayed response time of the whole circuit is within 5us, and the shortcoming that a traditional circuit is not timely in short-circuit protection is eliminated thoroughly .