The invention discloses an intelligent drug cabinet monitoring system based on Internet of Things. The intelligent drug cabinet monitoring system comprises an upper computer monitoring subsystem, a man-machine interaction subsystem and a lower computer monitoring subsystem, wherein the upper computer monitoring subsystem comprises a master control computer and an HIS center server in network connection with the master control computer, the man-machine interaction subsystem comprises a fingerprint identifier, a password reader, a touch screen and a voice module, the lower computer monitoring subsystem comprises a microcontroller, a drawer video monitoring module, a prompting module, an RFID acquisition module, a temperature and humidity acquisition module, a weighing module, an electromagnetic driving module and a drawer communication module. The intelligent drug cabinet monitoring system can detect drug change information in the cabinet in real time, drug administration is achieved through login authentication of a user, the problem of difficult standardized, scientized and refined management drug management in a hospital is effectively solved, and the drug use safety and management work efficiency are greatly improved. In addition, the invention also discloses a monitoring method for the intelligent drug cabinet monitoring system based on Internet of Things.