Aiming at the problem of pedestrian bridge vibration measurement, a vibration measurement system of pedestrian bridge with dual magnetic suspension vibrator structure was designed according to absolute vibration measurement principle. The relationship between the magnetic repulsion force of vibrator and its displacement was obtained by the experimental method and the least square fitting method. The vibration equations of two magnetic suspension vibrators were deduced respectively, and the measurement sensitivity of the system was deduced. The amplitude-frequency characteristic of the system was studied. A simulation model of vibrator measurement system with double magnetic suspension vibrator was established. The analysis shows that the sensitivity of the vibration measurement system with double magnetic suspension vibrator is higher than that with single magnetic suspension vibrator. The four vibration waveforms were measured, that is, no one passes through a pedestrian bridge, there are cars running under the pedestrian bridge, single pedestrian passes through the pedestrian bridge and multiple pedestrians pass through the pedestrian bridge. The multi-scale one-dimensional wavelet decomposition function was used to analyze the vibration signals. The vibration characteristics were obtained using one dimension wavelet decomposition function under four different conditions. Finally, the vibration waveforms of four cases were reconstructed. The measured results show that the vibration measurement system of pedestrian bridge with double magnetic suspension vibrator structure has high measurement sensitivity. The design has a certain value to monitor a pedestrian bridge.