The invention relates to an insulated lift platform between transformer substation tubular buses and an operation method for assembling insulating plates by the insulated lift platform. The operation method utilizes the insulated lift platform and realizes assembling of the insulated plates in a segmented assembling and lifting manner, and includes steps of assembling a first insulated plate, a second insulated plate and a third insulated plate sequentially. The insulated lift platform comprises an insulated base (1), a lift transmission mechanism (2), an insulated frame (3) and a worktable (4), wherein the lift transmission mechanism (2) and the insulated frame (3) are mounted on the insulated base (1), and the worktable (4) is connected with the insulated frame (3) through hinged points. The operation method has the advantages of mounting positions of the insulating plates can be determined easily and accurately, field operation is facilitated, and practicability is high since the insulating plates are assembled through the insulated lift platform in a segmented assembling and lifting manner on site.