The invention discloses a detecting device and a detecting method of time sequence parameters of a small package pluggable transceiver. The device comprises a test board, a module to be tested, a standard module, singlechips and an upper computer, wherein the test board is provided with two slots, the module to be tested is plugged in one slot, the standard module is plugged in the other slot, a transmitting terminal of the module to be tested is connected with a receiving terminal of the standard module via optical fiber, a receiving terminal of the module to be tested is connected with a transmitting terminal of the standard module via optical fiber, the singlechips are plugged in parallel on the test board, the singlechips are respectively a control-type singlechip and a bus-type singlechip, time sequence pins of the module to be tested and the standard module are respectively electrically connected with input / output ports of the control-type singlechip via the test board, the control-type singlechip is electrically connected with the bus-type singlechip via a serial bus, and the bus-type singlechip is communicated with the upper computer via a USB conversion chip and a serial conversion chip on the test board. The invention can realize the effects of automated testing, simple operation and high measurement accuracy.