The invention discloses a microwave photon up-conversion device and method based on a photoelectric oscillator and belongs to the technical field of microwave photonics. The device is composed of a laser source, a first coupler, a first circulator, a first high nonlinearity dispersion displacement optical fiber, an erbium-doped optical fiber amplifier, a first photoelectric detector, a second coupler, a first Mach-Zehnder modulator, a first microwave signal source, a first direct current voltage-stabilized power supply, an optical filter, a second Mach-Zehnder modulator, a second direct current voltage-stabilized power supply, a second circular, a second high nonlinearity dispersion displacement optical fiber, a second photoelectric detector, a microwave amplifier, a double-parallel Mach-Zehnder modulator, a third direct current voltage-stabilized power supply, a fourth direct current voltage-stabilized power supply, a fifth direct current voltage-stabilized power supply, an optical isolator and a spectrum analyzer. A Brillouin frequency shift value f of the high nonlinearity optical fiber is 9.2GHz, and a signal with frequency of f<m> can be up converted to f<m>+18.4GHz, so alow quality and low frequency intermediate signal is converted into a high quality and high frequency signal.