The invention discloses a distant place fault setting and monitoring system of a practical training substation. The system comprises a scheduling monitoring practical training room and a practical training substation, wherein the scheduling monitoring practical training room comprises a regulation and control host machine and a first optical transceiver, and the practical training substation comprises a second optical transceiver, a monitoring host machine, a communication workstation and a group of protective measuring and controlling devices controlled by the communication workstation; and a fault setting module is arranged in the regulating and controlling host machine, a fault receiving and distributing module is arranged in the communication workstation, and an embedded programming module of a protective device is arranged in each protective measuring and controlling device. The system disclosed by the invention has the beneficial effects that an accident handling safe operation training environment which can not be provided on site is provided, trainees and grid equipment can not be damaged in the practical training process, and the system is safe and reliable; fault simulation is more real, the fault information is uploaded to a scheduling end through the existing telecommand channel, handling within the scope of jurisdiction can also be carried out by scheduling personnel and a substation watch keeper, and a synchronous accident drilling chance is obtained; and the drilling can be repeated, and the training effect is guaranteed.