The invention relates to a full-vector information target polarized image time-sharing delivery simulation device and method and belongs to the target simulation technical field. According to the simulating device of the invention, a computer is connected with a DMD 1 through a frequency dividing circuit; the computer is also connected with a controller; and the controller is connected with a polaroid polarizer and a liquid crystal polarizer; and a micromirror array in the DMD 1, the polaroid polarizer, the liquid crystal polarizer and an acquisition camera are arranged sequentially in an optical-coaxially manner. According to the simulation method of the invention, the computer transmits target image electrical signals to the DMD 1, and the frequency dividing circuit carries out six-frequency division processing on the target image electrical signals; the DMD 1 converts the target image electrical signals which have been subjected to the six-frequency division processing into six target image optical signals; under the control of the computer and the controller, after the six target image optical signals pass through the polaroid polarizer and the liquid crystal polarizer according to a time sequence, 0-degree, 45-degree, 90-degree and 135-degree linearly polarized vector information as well as left-handed and right-handed circularly polarized vector information are obtained; and the acquisition camera acquires a target polarized image containing full-vector information.