The invention provides a digital PLL (Phase-Locked Loop) based phase noise measuring device. The digital PLL based phase noise measuring device comprises a frequency power measuring unit, a phase discrimination unit, a filtering unit, a DC (Direct Current) bias compensation unit, a low-noise amplification unit, an acquisition, frequency discrimination and phase discrimination unit, a digital loop filtering unit, a phase discrimination constant detection unit, a self-adaptive digital gain control unit, a reference source unit, and a signal processing and displaying unit. According to the digital PLL based phase noise measuring device, a double-balanced mixer is adopted as a phase discriminator, the phase noise of a measured source is extracted through a digital PLL, the specific noise extraction mode is divided into frequency mixer phase discrimination and digital delay line frequency discrimination, and DC caused by a loop circuit is counteracted through a DC bias compensation circuit, so that too big DC after amplification, induced ADC saturation and induced loop lock-losing are prevented. The implementation scheme of the digital PLL based phase noise measuring device is simple, totally excellent phase noise measuring sensitivity can be realized, the realized analysis frequency spectrum range is also very wide, and phase noise testing demands of most signal sources can be satisfied.