The invention provides a transformer fault simulating device which comprises three transformers. The first transformer comprises a plurality of high-voltage winding sleeve pipes, and terminals of the high-voltage winding sleeve pipes are connected to different positions of high-voltage winding coils respectively. Fastening bolts used for adjusting the height of a high-voltage winding are arranged between an upper insulation coil and an iron core and the lower insulation coil of the iron core of the second transformer, and supporting bars used for enabling the high-voltage winding to protrude outwards and a low-voltage winding to concave inwards are arranged between the high-voltage winding and the low-voltage winding. The third transformer is used for simulating winding warping faults. The three transformers are independent from one another, and the complex faults of short circuits, displacement, warping and bumps can be simulated simultaneously.