The present invention relates to the field of streaming media playback. Disclosed are a streaming media-based system and method for second retransmission of a lost packet. The system comprises a control module, as well as a data receiving module, a network packet loss detection module, a retransmission module, and a video playback module that are connected to the control module. The data receiving module is used for receiving data packets, storing the data packets in a linked list, determining whether the data packets are retransmitted data packets, and sorting the data packets. The network packet loss detection module is used for parsing the data packets and detecting packet loss of the data packets. The retransmission module is used for adding lost data packets to a retransmission queue and initiating a retransmission request to a server. The retransmission module is further used for adding data packets that are still lost after the retransmission to a retransmission queue and initiating a second retransmission request to the server. The video playback module is used for obtaining the sorted data packets from the linked list for playing. The present invention can reduce a network packet loss rate and improve experience of a user.