The invention provides an accurate tracing compensation grouting construction method. The method comprises the following steps of laying a plurality of displacement meters in a settlement region, wherein the multiple displacement meters are arranged in parallel in the depth direction; acquiring detection data of each displacement meter; and if the distance between any two adjacent displacement meters changes, performing grouting construction on a corresponding position. According to the accurate tracing compensation grouting construction method, the actual settlement condition is acquired through the displacement meters arranged in an array, and grouting is performed according to the actual settlement condition, and thus, the grouting condition corresponds to the actual settlement condition, so that the grouting volume is reduced to the maximum extent, and the grouting construction period is shortened.