This electronic Logging while drilling (LWD) is a new sort of well drilling technology developed in recent years. As to the traditional cable borehole survey, the LWD method has many advantages because of its higher accuracy, higher geologic strata resolution capacity, much less time and cost. To meet the current logging technology needs, A data acquisition and processing system for logging while drilling is designed.It minutely introduces the collection system structure, acquisition Program, the digital design of LWD and discusses the design and the implementation of each functional module.The system which designed on the basis of the high precise DSP and FPGA implements signal pretreatment, high speed A/D control and digitalization of the phase sensitive demodulation etc, optimizes the acquisition and processing system and supplies a new way for the development of logging while drilling.Experimental results show that system performance has attained the design requirement.