The invention discloses a substation equipment fault locating system based on a GPS. An air-conditioner/dehumidifier remote controller, a fan remote controller, an environment parameter collector, a fire smoke alarm, a human body infrared inductor and a video collecting and compressing module are in data transmission with a front end controller through a bus or a wireless sensor network. The front end controller communicates with a dispatching center server through a power SCADA communicating net or the Ethernet. The dispatching center server stores and processes received data. A central monitoring computer gets access to the data in the dispatching center server. Personnel locating terminals locate personnel wearing the personnel locating terminals through the GPS and electronic tags. According to the system, the environment of a substation can be monitored in real time, substation environment adjusting equipment is controlled in a classified and centralized mode, and the safe and high-quality environment is provided for normal operation of the substation equipment to the maximum.