A fast-locking phase locked loop and a fast locking method are provided. The fast locking method includes dividing a frequency of an oscillation signal by a preset divisor to output a divided signal, detecting a frequency difference between the divided signal and a reference signal, tracking whether a divided frequency of the divided signal falls within a locked frequency range or not, if not, tracking the divided frequency, and if yes, locking the divided frequency, detecting a divided phase difference between a divided phase of the divided signal and a reference phase of the reference signal, recording the phase difference as a tracking reference phase difference, tracking a next divided phase according to the tracking reference phase difference, and determining whether the divided phase falls within a locked phase range, and if not, tracking the divided phase, and if yes, locking the divided phase.