The invention relates to an IP fusion media all-terminal interaction system, which comprises a program source manufactured by one or more multimedia program manufacturing devices, and the program source transmits a program to the interaction system in a hybrid networking manner; the interactive system carries out SDI-to-IP conversion on a program source and then sends programs to various terminalsthrough a CDN. The system can realize the effect of playing various program sources to various terminals, has the advantages of low system cost and small occupied space of equipment, and can be matched with a signal of an access network streaming media to manufacture programs, so that the interactivity and the interestingness of the programs are improved.