The invention relates to a t system and method for managing multiple versions of a power grid model. According to the system and method, power grid model data corresponding to different times is acquire from a power grid model database, and a plurality of corresponding basic model versions are generated; visualized display and interactive operation are carried out on the multiple versions of the power grid model by adopting a tree structure, and functions such as subordinate evolution, parallel evolution, merged evolution and a series of interaction operations are provided for the model versions are provided for the versions of the model, so that visual display can be carried out on the multiple versions of the power grid model, and interactive operations such as version modification, version merging, version multi-layer display, version combined display and version different comparison can be carried out on the multiple versions of the power grid modes. By utilizing the system and method disclosed in the invention, the evolution process of the versions of the power grid model and differences between the versions between different evolution branches can be visually checked, so that operation and management can be carried out on the model in space dimensionality, the maintenance range of the power grid model is enlarged, and high-degree flexibility and convenience are provided for the maintenance of the multiple versions of the power grid model.