The present invention relates to a measuring and compensating method for channel mismatch of an ultra-high speed time-wavelength interleaved optical pulse sequence, by employing a generating module of the to-be tested ultra-high speed time-wavelength interleaved optical pulse sequence, an optical spectrum measuring module, an electrical frequency measuring module, and a data analyzing and processing module. The present invention obtains mismatch information of the pulse sequence for each channel by means of measurement and analysis of the ultra-high speed time-wavelength interleaved optical pulse sequence, thus overcoming the bottleneck of inadequate sampling of time-domain observation via an oscilloscope. The channel mismatch information obtained by the present invention may act as a basis for channel mismatch compensation and correction for the ultra-high speed time-wavelength interleaved optical pulse sequence.