The invention discloses an electro-hydraulic riveting device and a riveting method thereof. Due to mechanical damage of riveting guns of Existing riveting equipment after a period of use, the qualityof riveted parts is lowered, and the riveting efficiency is reduced. The electro-hydraulic riveting device comprises a charging and discharging circuit, a transmission cable, a discharge electrode, ashock wave transmission pipeline, a supercharging nozzle, a piston cylinder body, a piston rod, a riveting hammer, a base and a supercharging oil channel. The supercharging oil channel comprises a reversing valve, a hydraulic pump, a check valve and a fuel tank. The discharge electrode is arranged in the shock wave transmission pipeline and fixed to the base. The discharge electrode is in a cylindrical shape and comprises an electrode rod, an insulating tube and an electrode tube which are coaxially and sequentially arranged from inside to outside. The charging and discharging circuit comprises a charging circuit and a discharging circuit. Through high voltage discharge in liquid, strong mechanical shock wave is generated and used for the riveting process, the production efficiency of riveting is improved, and mechanical losses in the riveting process are reduced.