With the development of acquisition technology of comprehensive drilling information at home and abroad, particularly the increasing application of MWD, the accuracy of drilling decision has been greatly improved. At present, there is still a great gap in the respects of management, analysis and application of integrated drilling data, compared with foreign countries, which severely restricted the progress of scientific, information-based, intellectualized and automated drilling technology. Drilling risk real-time monitoring and diagnose system can conduct the real-time monitoring and diagnose analysis through the real-time analysis of drilling engineering data and MWD data, combined with multi-parameter fusion computing technology, which achieves the quantification and intelligentization of drilling disk monitoring and diagnose. This paper introduces the technological process and the key technology of real-time monitoring and diagnose system for drilling disk and describes the application of the system in Xinglongtai Oilfield, Liaoning. Field application result shows that the system can monitor and diagnose the drilling disk.