The invention relates to an electricity travelling wave signal reconstructing method based on compressed sensing, and belongs to the field of the electricity travelling wave process. The method comprises: first, a travelling wave detecting device is used to obtain an original travelling wave signal and determine a sparse representing coefficient in a certain transforming area; and then a lexicon matrix is formed through a selected measurement matrix, the linear projection is carried out on the original travelling wave signal by the measurement matrix to obtain an observation vector, the orthogonal matching pursuit method is used to reconstruct the original travelling wave signal, and a reconstructed travelling wave signal is obtained; finally, the verification is carried out on the reconstructed travelling wave signal. Compared with the traditional electricity travelling wave signal reconstructing method, using the sparsity of the travelling wave signal and the compressed sensing theory, the reconstruction is carried out on the electricity travelling wave signal, the sampling frequency is greatly lowered, the calculating speed is improved, and the sampling and reconstructing time is saved.