The invention relates to a metered parking system and method. The system comprises a vehicle movement sensing device, a vehicle identification system, a parking reminding module, a timing module and afee settlement or ticket generation module; the vehicle movement sensing device realizes real-time monitoring of parking positions; when a vehicle parks, the license plate information, model information and color information of the vehicle are identified, and timing is performed, so that fee charging and ticket issuing management can be facilitated; and the parking reminding module can inform theowner of the vehicle of the condition of the corresponding parking position. With the metered parking system and method of the invention adopted, a condition that the owner of the vehicle mistakenlyparks his or her vehicle at a site where parking is not allowed can be avoided; and the owner of the vehicle can know the charging standard of parking spaces, and a condition that a ticket for or a large amount of parking fees imposed on the owner of the vehicle is generated with the owner of the vehicle not knowing it can be avoided.