The invention discloses a P2P streaming media scheduling system and method based on coupling of codes. The system comprises a server and a terminal node, wherein the server comprises a control module and an Raptor coding module, and the control module is used for controlling interactive information; the Raptor coding module is used for coding source files and generating Raptor coding packs, and the Raptor coding packs are transmitted to a network in the transmitting time slot; the terminal code comprises a control module, network coding and decoding modules and an Raptor decoding module, wherein the network coding module is used for performing NC recoding on the received coding packs, then the coding packs are transmitted to neighboring downstream nodes, or decoding is performed when enough coding packs are received, and next the coding packs are transmitted to an Raptor decoder; the Raptor decoding module is used for decoding the Raptor coding packs having been decoded by a network decoder, and original data packets are restored. According to the system and method, Raptor codes and network codes are effectively cascaded, a complex scheduling strategy of the streaming media system is simplified, and the bandwidth availability rate and the system throughput rate are improved.