The invention discloses a laser line width measuring system and method based on an electro-optic modulator and an adjustable radio source. The system comprises a to-be-measured laser, an opto-isolator, a 2*2 optical fiber coupler, an integrated photoelectric detector, a spectrum analyzer and a frequency shift fiber ring. The frequency shift fiber ring is connected between an output port D and an input port C of the 2*2 optical fiber coupler and at least comprises a frequency shifting device and an optical fiber delay line, wherein the frequency shifting device is composed of the electro-optic modulator and the adjustable radio source. The adjustable radio source is used for providing radio driving signals with the adjustable frequency shifting amount for the electro-optic modulator, and the frequency shifting amount can be adjusted in real time by controlling the modulation frequency injected into the electro-optic modulator by the adjustable radio source. The frequency shifting amount can be increased, the adjustable band width range is enlarged to 10 GHz, and the line width measurement limit reaches 1 Hz.