A device and method for detecting wire breakage are provided. The wire breakage detection device includes an excitation coil, a detection coil, and a processor. The detection signal input end of the processor is connected to the detection coil. The excitation coil and the detection coil are located on two sides of a longitudinal section of an inner wall of a to-be-detected pipeline respectively, wherein a conductive closed structure is formed continuously and annularly in the to-be-detected pipeline, the axis of the excitation coil is parallel to the axis of the to-be-detected pipeline, and the axis of the detection coil is perpendicular to the axis of the to-be-detected pipeline. The excitation coil is configured to generate an alternating magnetic field according to an alternating electromagnetic signal, wherein an induced current and an electromagnetic field of the induced current are generated by the to-be-detected pipeline located in the alternating magnetic field.