A system and a method for measuring a void fraction of an inside of a heat conduction member are provided. The system is used to measure the heat conduction member and includes: a heating device configured as a heat source to heat an evaporation end of the heat conduction member; a cooling device configured for cooling a condensation end of the heat conduction member; at least one pair of electrode pads respectively attached to two opposite surfaces of the heat conduction member; and an LCR meter electrically connected to the at least one pair of the electrode pads for measuring impedances of the heat conduction member. Each of the impedances is converted into the void fraction that corresponds to a measured position of the heat conduction member.