The invention relates to a method for monitoring condition of a rope of a hoisting device, which rope comprises one or more load bearing members oriented to extend parallel with longitudinal direction of the rope throughout the length thereof. The method comprises measuring strains of one or more portions of a load bearing member of the rope; and comparing the measured strains of one or more portions of a load bearing member of the rope with at least one reference. The invention also relates to a hoisting device implementing the method.