The invention provides a network outage continued playing method of an on-demand video, and an IPTV playing device, wherein the method comprises: connecting a network to acquire a data stream of the video; playing, by a player, the data stream, and obtaining a start playing time of the video; in the case of network outage, obtaining the playing time length of playing the video; when network is connected again, obtaining a time point according to the start playing time and the playing time length; searching for, by the player, according to the time point, and starting to continue to play the video at the display time label of the key frame. The present invention has the beneficial effects of directly performing the breakpoint continued playing of the on-demand video from the network outage time point when the network is connected again.