A system and method for online monitoring partial discharge of a generator are disclosed. The system is connected in parallel with a busbar between the generator and electric network, and comprises: a near-end circuit on a generator side, which includes a near-end capacitive coupling sensor connected to the busbar and a near-end impedor connected in series with the near-end capacitive coupling sensor; a far-end circuit on an electric network side, which includes a far-end capacitive coupling sensor connected to the busbar and a far-end impedor connected in series with the far-end capacitive coupling sensor; and a detection device, which has a near-end input terminal connected to a connection point between the near-end capacitive coupling sensor and the near-end impedor through a near-end cable, a far-end input terminal connected to a connection point between the far-end capacitive coupling sensor and the far-end impedor through a far-end cable, and a processing unit, a length L of the busbar between the two capacitive coupling sensors, a length L1 of the near-end cable, and a length L2 of the far-end cable satisfy
in which Vb is a transmission speed of a signal in the busbar and Vc is a transmission speed of a signal in the cables, the processing unit selects one pulse from each of a near-end signal input from the near-end input terminal and a far-end signal input from the far-end input terminal as a first comparison pulse and a second comparison pulse according to amplitudes of pulses in the near-end signal and the far-end signal, and discriminates a partial discharge signal according to a comparison between a preset time delay threshold Δt0 and a time delay between the first comparison pulse and the second comparison pulse. The device and method for online monitoring partial discharge according to the invention adopt directional coupling of dual sensors and employ discriminations of time delay and amplitude to eliminate or suppress interferences, can effectively measure real partial discharge signals inside the generator, and thus provides an effective references for evaluating insulation conditions inside the generator.