The invention discloses a compact type collimating common optical path phase shifting digital holography imaging system and method. The system comprises a laser, a plane mirror, a microobjective, a pinhole, a collimating lens, a line polarizing film, an unpolarized splitting prism and a coating film reflector, and the coating film reflector is connected with piezoelectric ceramics; a picture sensor collectors a hologram, wherein the hologram is obtained by interference of object waves irradiated to objects and reference optical waves reflected by the coating film reflector, a two-dimensional rotation regulating frame with the unpolarized splitting prism is adjusted for adjusting the object light wave angle, the piezoelectric ceramic is controlled to achieve reference optical wave phase shifting, the hologram is analyzed and rebuilt through a phase shifting algorithm and a diffraction propagation method , and an imaging result is obtained. The system can adjust the two-dimensional rotation regulating frame by compactly arranging the coating film reflector driven by the piezoelectric ceramic and the unpolarized splitting prism, and the piezoelectric ceramic is controlled to obtain the holography, so that the imaging stability, practicability and reliability are effectively improved, and the system is simple and easy to obtain.