Aiming at the real-time observation requirements in marine science and ocean engineering, based on underwater acoustic communication and satellite communication technology, a seabed real-time sensing system for in-situ long-term multi-parameter observation applications (SRSS/ILMO) is proposed. It consists of a seabed observation system, a sea surface relay transmission buoy, and a remote monitoring system. The system communication link is implemented by underwater acoustic communication and satellite communication. The seabed observation system adopts the “ARM + FPGA” architecture to meet the low power consumption, scalability, and versatility design requirements. As a long-term unattended system, a two-stage anti-crash mechanism, an automatic system fault isolation design, dual-medium data storage, and improved Modbus protocol are adopted to meet the system reliability requirements. Through the remote monitoring system, users can configure the system working mode, sensor parameters and acquire observation data on demand. The seabed observation system can realize the observation of different fields by carrying different sensors such as those based on marine engineering geology, chemistry, biology, and environment. Carrying resistivity and pore pressure sensors, the SRSS/ILMO powered by seawater batteries was used for a seabed engineering geology observation. The preliminary test results based on harbor environment show the effectiveness of the developed system.