The invention relates to a supporting stand column which adopts a Bailey truss and is applied to a jacking formwork system and an installation method of the supporting stand column. The supporting stand column which adopts the Bailey truss and is applied to the jacking formwork system is characterized in that the supporting stand column comprises a Bailey truss column head connecting piece, an upper supporting latticed column and a lower supporting latticed column, the lower supporting latticed column is installed on a hydraulic supporting box beam of a hydraulic jacking system, the upper supporting latticed column is fixedly connected to the upper end of the lower supporting latticed column, the Bailey truss column head connecting piece is fixedly connected to the upper end of the upper supporting latticed column and is of a cube structure (namely the upper surface and the lower surface of the Bailey truss column head connecting piece are square), the upper end and the lower end of each of the four side faces of the Bailey truss column head connecting piece are respectively provided with a plurality of connecting piece female/male connectors which are matched with female/male connectors of the Bailey truss, and connecting pin holes are formed in the connecting piece female/male connectors and are used for being connected with the Bailey truss through Bailey pin heads. The supporting stand column which adopts the Bailey truss and is applied to the jacking formwork system can connect the Bailey truss to the hydraulic jacking system conveniently and firmly.