A method and system for preparing high-purity taurine and salt by reacting ethylene oxide with bisulfite to generate isethionate, performing an ammonolysis reaction on the isethionate and ammonia as well as a metal salt, evaporating the reaction solution to obtain a taurine salt concentrated solution, subjecting the concentrated solution to ion exchange in an ion exchange system to obtain an adsorption solution with a main ingredient of taurine, separately collecting the adsorption solution, extracting the taurine from the adsorption solution, eluting adsorbed metal cations from the ion exchange system by an acid, separately collecting the eluate, and extracting salt from the eluate or directly using the eluate as a salt solution product. According to the disclosure, advance separation of materials of two target products is completed after the ammonolysis reaction, and then the target products are separately extracted, so that an extraction process becomes very simple, interference brought to product separation when two target products are positioned in the same maternal system completely does not need to be considered, the process is simple, and the production cost is greatly reduced.