The invention discloses a photon type frequency down-conversion device. The photon type frequency down-conversion device comprises an electro optic conversion module, a down-conversion signal output unit, a polarization modulator, an optocoupler, an analyzer, a photoelectric detector, a microwave band-pass filter, an amplifier and a phase shifter, wherein the optical input end and the optical output end of the polarization modulator are respectively connected with the output end of the electro optic conversion module and the input end of the optocoupler; the second output end of the optocoupler is connected with the input end of the analyzer, the analyzer, the photoelectric detector, the microwave band-pass filter, the amplifier and the phase shifter are connected in sequence, the output end of the phase shifter is connected with the electric input end of the polarization modulator to form a photoelectric oscillation loop; and the input end of a down-conversion signal output unit is connected with the first output end of the optocoupler, which can operate in a state of 2n frequency doubling of the oscillator signal in the photoelectric oscillation loop, and the n is a natural number. The invention also discloses a frequency down-conversion method. The photon type frequency down-conversion device is simple in structure, low in cost and favorable in frequency down-conversion performance.