A lithium battery dynamic impedance parameter identification method based on an equivalent circuit model is disclosed. Firstly, a charge/discharge system is made based on a first order RC equivalent circuit; a charge/discharge test on a to-be-tested lithium battery is carried out according to the charge/discharge system; and test data is obtained, and parameters are extracted. According to the invention, online estimation of dynamic internal resistance of a lithium battery in different charged states and charge/discharge conditions can be conducted, and a battery module which is simple and practical can be obtained on the basis. The invention takes correlation of impedance and charge/discharge current into consideration, improves the accuracy of lithium battery impedance parameter extraction, provides a simple and feasible charge/discharge test method and a specific parameter extraction algorithm, and has high practical operability.