A lens inspection device and method are provided. The lens inspection method includes the steps of providing a collimating light beam, polarizing the collimating light beam by a polarizer to produce a polarized light beam, deflecting the polarized light beam by a lens to be measured to produce a deflected light beam, providing a phase retardation plate through which a polarized compensation image is generated, and comparing the polarized compensation image with a lookup table having standard color values of a plurality of standard polarization compensated images recorded therein, so as to determine whether a deformation is presented on the lens.