A method and system for dynamic scheduling and allocation of network traffic are provided. The method includes: distributing, by a central scheduling system, a domain name initial configuration table and a determination strategy to each detection node; detecting, by each detection node, each server node of a pre-set domain name in the domain name initial configuration table, thereby obtaining performance information of each server node; generating, by each detection node, a corresponding best coverage record; and converting, by the central scheduling system, the best coverage record into a target server node and feeding back, by the central scheduling system, the target server node to a local DNS server. The disclosed method and system for dynamic scheduling and allocation of network traffic improves network access speed and reduces operation and maintenance cost.