A CSI-RS measurement feedback method and device are provided to optimize analog and digital precoding. A network device sends S CSI-RSs to a terminal device. Each CSI-RS corresponds to one antenna port number. The terminal device sends M antenna port numbers that correspond to M CSI-RSs and sends a PMI that corresponds to a channel matrix H or the quantization result of a channel matrix H to the network device. The terminal device selects the M antenna port numbers that correspond to the M CSI-RSs from the S antenna port numbers that correspond to the S CSI-RSs, and feeds back the M antenna port numbers to the network device.