In a method and system for generating twelve-lead ECG signals based on three differential voltages, each of which is defined as a potential difference between two myoelectric signals sensed respectively by two corresponding electrodes that cooperatively constitute a corresponding differential electrode pair and that are disposed on a users chest at predetermined specific locations, a signal processor generates the twelve-lead ECG signals using a pre-established dynamic system model that is associated with the specific locations of the electrodes on the users chest and that is configured with temporal and spatial correlations among twelve leads of an ECG.