The invention discloses a compensator and compensation method for 
transmission delay in 
optical fiber time frequency transmission. The compensator comprises a central 
station and a remote terminal, wherein the central 
station is connected with the remote terminal through optical fibers, the central 
station comprises a time frequency scale source, a 
frequency multiplier I, a 
frequency multiplier II, a filter I, a 
frequency mixer I, a 
frequency mixer II, a filter II, a light emitting module I, a combiner, a light receiving module I and an 
amplifier I, and the remote terminal comprises a wave separator, an 
optical modulator I, an 
optical modulator II, a light receiving module II, an 
amplifier II, a filter III, a phase shifter, a power divider, a light emitting module II and an electrical interface. The compensation method includes the steps that the central station conducts long-distance 
injection locking on a photoelectric oscillator of the remote terminal, the remote terminal accumulates errors and transmits the errors back to the central station, the central station conducts compensation through phase 
delay and a fluctuation regulation and 
control circuit, and therefore the output of the photoelectric oscillator of the remote terminal is locked to the central station. According to the compensator and the compensation method, the 
asymmetry of two-way 
delay is eliminated, therefore, the transmission accuracy can not be limited by the measurement accuracy of the 
system, and accurate long-distance transmission can be conducted.