Common-mode transient immunity circuit and modulation-demodulation circuit, common-mode transient immunity circuit is applied to connecting with modulation circuit or demodulation circuit, comprising first isolation circuit, common-mode bias circuit, reference circuit and comparison circuit. Common-mode bias circuit provides common-mode bias voltage for first isolation circuit; first isolation circuit transmits common-mode bias voltage to comparison circuit; reference circuit provides reference voltage for comparison circuit; comparison circuit compares common-mode bias voltage with reference voltage, when common-mode bias voltage is larger than reference voltage, comparison circuit outputs enable signal to modulation circuit or demodulation circuit, and modulation circuit is driven to stop outputting modulation signal or demodulation circuit is driven to stop receiving modulation signal. According to invention, when common-mode transient occurs, enable signal is output to drive modulation circuit or demodulation circuit to stop working, so that influence of common-mode transient on output signal is avoided.