The invention discloses a water dispenser monitoring system and method with a filter cartridge monitoring function. The water dispenser monitoring system comprises a first TDS detector, a second TDS detector, a flow sensor, a processor, a communication module and a service terminal, wherein TDS detection is performed by the first TDS detector and the second TDS detector, the first TDS detector detects water quality before filtering, the second TDS detector detects water quality after filtering, third water quality data is obtained by comparing two groups of water quality data, flow data is acquired by the flow sensor, the third water quality data and the flow data are subjected to inductive analysis with default, and an alarm signal is produced according to an analysis result; the processor transmits the alarm signal to the service terminal through the communication module, and the service terminal performs alarm and display. The water dispenser monitoring system and method monitors a filter cartridge of a water dispenser precisely, a user is reminded timely to replace the filter cartridge when the filter cartridge of the water dispenser is abnormal, misoperation made during anomaly of single detection data is avoided, and drinking water safety is guaranteed.