The invention discloses a novel automobile electric power steering fault-tolerant control device and a method, and belongs to the technical field of automobile chassis electronic control. The novel automobile electric power steering fault-tolerant control device is composed of a torque signal processing module, a motor monitoring module, an engine signal detection module, an automobile speed signal detection module, an electronic control unit (ECU) microprocessor, a logic drive circuit, a relay control module and an H bridge drive circuit control module. According to the novel automobile electric power steering fault-tolerant control device and the method, an ECU signal monitoring diagnosis module comprises signal voltage state monitoring of the torque sensor, judgment of signal failures of the torque sensor, judgment of signal voltage threshold values, and judgment of difference in main and auxiliary circuits of the torque sensor can be achieved, and diagnosis and protection of current relations between the torque sensor and a motor and other failures are achieved. Fault-tolerant control can be achieved to guarantee safe and stable driving of an automobile, a controller is not relied on the ECU completely, operation time of the microprocessor can be saved, and control accuracy and efficiency are improved.