A method is for monitoring interaction between a person and his companion and pet. The method can be realized via a data transfer network, a monitoring arrangement used in the method, a server and a computer program to be used in the monitoring arrangements, which are included in the monitoring arrangement. With the method and monitoring arrangement, an interactive event between the companion and person and/or pet can be visualized on a data processing device for a selected time period. The data processing device can be situated in a different location than the persons and pet being monitored. In the method, the latest 3D location measuring data and physiological measuring data of the pet, companion and person are compared to long-term average data. The physiological measuring data is received from wireless monitoring devices carried by the pet, companion and person.