The invention relates to a safety monitoring early warning and safety management system of oil and gas extraction and gathering operations as well as a method thereof, belonging to the technique field of safety production monitoring and supervision, and the system is composed of a monitoring center arranged at an oil and gas extraction safety monitoring and management department and a plurality of on-site monitoring terminals disposed at all oil and gas extraction operation areas. The method comprises: collecting and transmitting safety-related parameter signals, video signals and audio signals in real time; implementing the analog-digital conversion or signal conversion and compression coding to the signals; then transmitting the signals to all hosts of the monitoring center; processing and analyzing the received three types of signal information by all the hosts and then carrying out the parameter monitoring, video monitoring and audio communication respectively; and outputting the processed three types of information to the spot for being controlled correspondingly. The invention can realize the risk assessment, dynamic intelligent monitoring, safety state analysis, accident early warning and alarming, safety guarantee control and safety management of the whole process of operations ranging from oil and gas extraction, heating, separation processing, storage to transportation for oil and gas production enterprises.