The invention provides a material lacking detection system and method. The system comprises a circular annular material disc and comprises a detection module, a control module and an alarm module, wherein the circular annular material disc is used for rotatably transmitting a material, the detection module is arranged on the material disc and is used for detecting rotation information of the material disc during transmitting the material, the rotation information comprises a rotational speed and rotation circles, the control module is used for acquiring the rotation information, obtaining remaining usage time of the material according to the rotation information and judging whether the remaining usage time of the material is smaller than preset material supply time or not, and the alarm module is used for generating first warning information to remind of adding the material when the control module judges that the remaining usage time of the material is smaller than the preset materialsupply time. By the system, manual inspection is substituted, the real-time performance of the material lacking early-warning is improved, and meanwhile, the reliability of the material lacking early-warning is improved.