The invention discloses a shaft system lifting and propeller installation process. The process sequentially includes the steps of early-stage preparation, propeller shaft lifting, propeller hydraulicassembling, installation of front and rear sealing devices of propeller shafts, installation of intermediate shafts, installation of rope guards or fishing net cutters, and temporary fixation of shaftsystems before a launch and the like. The shaft systems and propellers are installed one by one from tail to head so as to be conveniently centered one by one from tail to head with the tail shaft end as the standard and connected to a main machine after a ship is launched, the influence caused by hull deformation generated after the ship is launched on the shaft system installation quality can be reduced through the process sequence, and the installation quality is guaranteed.