The invention belongs to the technical field of intelligent power grids, and provides a method and system for evaluating and analyzing relay protection. The method comprises the steps that the movement conditions of a protection device are analyzed according to definite value data provided by a fault recorder and the relay protection device, data information is acquired and managed, and an information database is constructed; the analysis models of the relay protection device are constructed, and comprise an operating reason analysis model and a correction analysis model; searches are carried out in the information database according to the current operating state of the relay protection device, the corresponding analysis models are found, and an evaluation result is calculated. The reason for a fault can be analyzed to the maximum extent according to the operating state of the relay protection device, the relay protection device is maintained by work personnel according to the reason, the safety of electrical equipment and the stable operation of an electric system are effectively guaranteed, and the maloperation, operation refusing and other incorrect operations of the protection device are avoided.