The invention discloses a dynamic sealing and pressure compensation structure for a shear valve slurry pulser. The dynamic sealing and pressure compensation structure comprises a rubber cylinder structure, wherein the rubber cylinder structure is arranged in an annular cavity formed by a cavity structure of a stator and an output shaft, one end of the rubber cylinder sleeves on the outer side of the output shaft, and the other end of the rubber cylinder structure sleeves on the outer side of a pulser shell; the stator sleeves on the outer side of the output shaft of a motor, and a rotor is connected to the tail end of the output shaft of the motor; and a cavity structure is arranged in the stator, the rubber cylinder structure is arranged in the annular cavity formed between the cavity part, close to the rotor, of the cavity structure and the output shaft, and the pulser shell is mounted in the annular cavity between the cavity part, far from the rotor, of the cavity structure and the output shaft. The invention relates to but is not limited to oil exploration equipment. By virtue of the dynamic sealing and pressure compensation structure, the configuration of the optimal dynamic sealing mechanism can be realized, and the service life of a dynamic sealing part can be effectively prolonged; and meanwhile, the configuration of an optimal pressure compensation mechanism can be realized, and the routing process of short sections in an instrument can be effectively optimized.