An angle measurement and fault diagnose system with a spinning warning function comprises a variable reluctance sensor (1), a shaft angle conversion circuit (2), a spinning warning circuit (3), a monitoring interface circuit (4), a monitoring CPU (5), a positive and negative angle identification circuit (6), a definite time counting circuit (7), a definite number timing circuit (8), a bus interface circuit (9) and a bus CPU (10). The shaft angle conversion circuit converts the output of the variable reluctance sensor into a pulse signal, the signal can be exported to the bus CPU by passing the positive and negative angle identification circuit, the definite time counting circuit, the definite number timing circuit and the bus interface circuit, and can be used for angle measurement and orientation identification. The spinning warning circuit is used for judging whether a tested object is over speed, and sends the over speed signal to the monitoring CPU through the monitoring interface circuit. The spinning warning circuit is simple in structure, has the functions of spinning warning, angle measurement and fault diagnose, can improve the reliability of the angle data measurement.