Due to its excellent damping effect, seismic isolation technology is widely used in the lifeline engineering such as school, hospital and etc. A set of long-time structural health monitoring system is designed and installed in a teaching building to test the isolation design and ensure its safety. This system can record the structural response to common environmental factors and different loads. Based on the collected data of the structural acceleration response, the improved Morlet wavelet modal parameter identification method is used to analyze and process the data in real time, identify structural modal parameters under different conditions, and analyze the impact on the law from the environmental factors and human activities. The result indicates that the changes of personnel activities and environment temperature have great influence on the dynamic characteristics of the isolated structure, which should be considered in the design. Finally, two seismic response data collected by the structural health monitoring system are analyzed, and the structure characteristics’ variation law of the isolated structure under earthquake is concluded