A hardware wallet binding authorization method. The method comprises: when a hardware wallet receives a binding state query instruction, determining the value of a verification data existence sign; if the value is first preset data, setting a binding object as null, and setting an authorization state as allowing generation of an authorization code; if the value is second preset data, setting the binding object as a terminal corresponding to the hardware wallet, or other terminals; returning the binding object and a saved hardware wallet certificate to the terminal; when the hardware wallet receives an authorization code generation instruction, if the authorization state is allowing generation of a state code, generating, caching and displaying an authorization code, setting the authorization state as not able to generate an authorization code again, and setting the state of the hardware wallet as unbound; and when the hardware wallet receives a binding instruction, using the acquired authorization code to verify the binding instruction, and if the verification is successful, binding being successful. The terminal can only be connected to the hardware wallet by means of user authorization, such that the security of user assets is ensured.