The invention discloses a high-speed spatial light modulation method based on an LED array and an imaging system of the method, and belongs to the field of cross technologies of quantum physics, detection imaging and signal processing. The system comprises a computer, a control board card, an LED array, a light beam modulation lens, an object, a light beam collection lens and a single-pixel photoelectric detector. The application method comprises the following steps that firstly, the LED array generates Hadamard patterns and stores the Hadamard patterns in the control panel card; secondly, thecontrol board card controls the LED array to display the Hadamard patterns in sequence through scanning twice, and collects a voltage average value of a process of displaying the first scanning pattern and the second scanning pattern; and finally, the computer sums the products of the Hadamard patterns and the corresponding voltage average values to restore an image. According to the method and the system, the correlation imaging speed is increased, the fast display of the Hadamard patterns is realized, and the cost is lower.