Non-equilibrium transition dynamics under high pressure depends on temperature, pressure and (de)compression rate. The studies require combination of time-resolved probe and rapid compression device on different time scales. Here we report the time-resolved X-ray diffraction (XRD) and dynamic diamond anvil cell (dDAC) system, which were recently developed at the BL15U1 beamline of Shanghai Synchrotron Radiation Facility (SSRF). There are two rapid loading methods for dDAC. One uses membrane control and the other is piezoelectric actuator driven dDAC. Both methods can dynamically compress the DAC sample chamber up to 300 GPa on millisecond scale (20 μm culet is used), and the time-resolved XRD data are obtained correspondingly. A new type of piezoelectric ceramic dDAC is designed with single-side drive or double-side drive, which allows us to realize extremely high pressure (above 300 GPa) with a fast compression rate of 13 TPa/s. During the rapid compression process, the X-ray diffraction spectra are collected continuously and simultaneously. The XRD detector is Pilatus 3X 900K, which has 2-ms resolution with 500 kHz frame rate. The millisecond time-resolved XRD and high pressure rapid compression system developed at BL15U1 of SSRF enrich the high-pressure experimental methods and enable the beamline to carry out ultra-high pressure experiments, non-equilibrium phase transition and relevant scientific researches.