An erecting system and a binocular telescope for laser ranging. The erecting system includes a roof half penta prism, a beam splitting prism and an isosceles prism. The beam splitting prism is positioned between the roof half penta prism and the isosceles prism. The beam splitting prism is formed by bonding two right-angle prisms. A beam splitting film is arranged on a bonding surface of the two right-angle prisms. The erecting system not only has simple structure and small occupation volume, but also is convenient in use, can realize the binocular observation and targeting at a measured object, and can display the distance of the measured object in real time in the field of view while observing the object.