The drastic changes in the solar wind will cause serious harm to human life. Monitoring interplanetary scintillation(IPS) can predict solar wind activity, thereby effectively reducing the harm caused by space weather. Aiming at the problem of the lack of the ability to observe IPS phenomenon of the 40-meter radio telescope at the Yunnan Astronomical Observatory of China in the frequency band around 300MHz, an IPS real-time acquisition and processing scheme based on all programmable system-on-chip(APSoC) was proposed. The system calculates the average power of 10ms IPS signal in PL-side and transmits it to the system memory through AXI4 bus. PS-side reads the data, takes logarithms, packages it, and finally transmits it to the LabVIEW host computer through gigabit Ethernet UDP mode for display and storage. Experimental tests show that the system functions correctly, and the PL-side power consumption is only 1.955 W, with a high time resolution of 10ms, and no data is lost in 24 hours of continuous observation, with good stability. The system has certain application value in IPS observation.