The invention relates to an electric pump well fault real-time diagnostic system and method based on time series data analysis, and the electric pump well fault real-time diagnostic system and method are applied to oilfield downhole electric pump fault diagnosis and treatment. The system comprises a downhole submersible device, a cable, a downhole parameter measuring device, a control cabinet, a well mouth casing pressure, oil pressure and temperature measuring device, a ground data collection and analysis system, a fault analysis processor and a control cabinet current, voltage and frequency data collection system. The method comprises the steps that fault type characteristic parameters and a corresponding treatment measure database are set up; production characteristic parameters are obtained in real time; real-time flow is calculated, average values of the production characteristic parameters and the flow in four time periods are calculated correspondingly; variation amplitude is calculated (please see the formula in the specification ); an integrated assessment value is calculated (please see the formula in the specification); the electric pump well fault type is determined; and a corresponding electric pump well fault treatment measure is recommended. According to the electric pump well fault real-time diagnostic system and method based on time series data analysis, electric pump well fault real-time diagnosis is achieved, and fault misjudgement is effectively reduced.