A method for implementing ring protection, characterized by comprising: for each destination ring node forming a ring network, establishing a shared working channel and a shared protection channel; when a failure occurs on the shared working channel during proceeding of a service traffic, switching the service traffic being transmitted, at a position of the failure, from the shared working channel to the shared protection channel for transmission; and switching, by an ingress ring node of the service traffic, subsequent packets of the service traffic to the shared protection channel for transmission; wherein the step of establishing a shared working channel and a shared protection channel comprises: establishing a forward shared channel and a reverse shared channel which serve as a working channel and a protection channel for each other; or establishing two forward shared channels and two reverse shared channels, two of which are selected as working channels and the other two of which are selected as protection channels; wherein the step of establishing a forward shared working channel and a reverse shared protection channel comprises: establishing a forward shared working channel and a reverse shared protection channel according to a longest path principle by taking two ring nodes adjacent to the destination ring node as starting points; and wherein the step of establishing two forward shared channels and two reverse shared channels comprises: establishing two forward shared working channels and two reverse shared protection channels according to the longest path principle by taking the two ring nodes adjacent to the destination ring node as the starting points. for each destination ring node forming a ring network, establishing a shared working channel and a shared protection channel; when a failure occurs on the shared working channel during proceeding of a service traffic, switching the service traffic being transmitted, at a position of the failure, from the shared working channel to the shared protection channel for transmission; and switching, by an ingress ring node of the service traffic, subsequent packets of the service traffic to the shared protection channel for transmission; wherein the step of establishing a shared working channel and a shared protection channel comprises: establishing a forward shared channel and a reverse shared channel which serve as a working channel and a protection channel for each other; or establishing two forward shared channels and two reverse shared channels, two of which are selected as working channels and the other two of which are selected as protection channels; wherein the step of establishing a forward shared working channel and a reverse shared protection channel comprises: establishing a forward shared working channel and a reverse shared protection channel according to a longest path principle by taking two ring nodes adjacent to the destination ring node as starting points; and wherein the step of establishing two forward shared channels and two reverse shared channels comprises: establishing two forward shared working channels and two reverse shared protection channels according to the longest path principle by taking the two ring nodes adjacent to the destination ring node as the starting points.