The invention discloses a water fertilizer medicine accurate application system based on Internet of Things, and a method. The water fertilizer medicine accurate application system based on Internet of Things comprises a meteorological monitoring system, a soil environment monitoring system, an irrigation fertilization medicine application system, and a cloud control platform; the meteorological monitoring system is used for acquiring crop growth vigor, insect and disease, wind speed, wind direction, illumination, evaporation capacity, and rainfall information; the soil environment monitoringsystem is used for acquiring soil temperature and humidity, salt content, water content, nutrient content, pH value, and natural fertility curve data of soil; the cloud control platform is used for drawing a rainfall curve and a natural fertility curve based on received information, drawing crop water need rules and fertilizer need rules, taking the difference of crop water need rules and fertilizer need rules as crop need irrigation amount, taking the difference of crop fertilizer need rules and the natural fertility curve as crop need fertilizer amount, grading crop growth vigor and insect and disease information, determining medicine using amount, and completing crop irrigation and fertilizer and medicine applications using the irrigation fertilization medicine application system.