The invention relates to the anti-counterfeiting technology of products, in particular to an anti-counterfeiting-based product traceability system which comprises an anti-counterfeiting code generation module used for generating a bottled anti-counterfeiting code and a piece-packed anti-counterfeiting code, a bottled anti-counterfeiting code used for being attached to a single product, and a piece-packed anti-counterfeiting code used for being attached to a product piece-packed packing box, wherein the bottled anti-counterfeiting code contains bottled anti-counterfeiting code information afterbeing generated, and the piece package anti-counterfeiting code does not contain information after being generated; an anti-counterfeiting code activation module used for activating the bottled anti-counterfeiting code attached to the product and the piece-mounted anti-counterfeiting code attached to the product piece-mounted packaging box; and an anti-counterfeiting code association module usedfor associating the piece of anti-counterfeiting code with the bottled anti-counterfeiting code attached to the product in the packaging box where the piece of anti-counterfeiting code is located after the piece of anti-counterfeiting code is activated, and generating piece of anti-counterfeiting code information which comprises product information carried by the bottled anti-counterfeiting codesof all the products in the packaging box where the piece of anti-counterfeiting code is located.