Can reading book review substitute reading the whole book in a literature review? This book has 570 pages, a lot of information about my research subject and several studies are included.
However, I don't want to spend my time reading it because one professor wrote already 12 pages review, emphasizing most important finding and conclusions. As well critical perspective.

Should I cite both of them in my literature review so I can honor in a way book author or is it dishonest from my side to cite something I didn't read? I don't doubt he did a great job, even people from Cambridge are praising him, but I think I will lose a lot of time since I am a slow reader and in the review is represented a lot what I would like to know.
I'd recommend you should at least read and understand the chapters pertaining to your research.

If you trust the other professor wrote a concise, but complete and truly impartial review (because "even some people from Stanford praise him"? Think again: does that sound like a valid scientific reasoning?), you certainly may decide at our own risk to cite only the review.

By academic standards, as soon as you just add something to the bibliography you didn't read, it's... an academic misdemeanor. And adding a reference to something you did not even browse is quite the opposite of "honoring the author".