The invention relates to an aluminum alloy cable whole life cycle cost management index system construction method, and the method comprises the following steps: a target layer is constructed, and the index is an aluminum alloy cable whole life cycle cost management index; a criterion layer is constructed, and the criterion layer comprises indexes including a safety index, a benefit and efficiency index, a cycle cost index, a timeliness index and an advancement index; an index layer is constructed, and the index layer comprises 27 indexes which comprises 23 quantitative indexes and 4 qualitative indexes; an analytic hierarchy process is adopted to calculate subjective weights of basic indexes, and on the above basis, an entropy weight method is adopted to correct the subjective weights obtained by the analytic hierarchy process to obtain comprehensive weights. Compared with various management index system construction methods in the prior art, the method provided by the invention considers each step in an aluminum alloy cable whole life cycle, comprehensively utilizes the analytic hierarchy process and the entropy weight method to determine the comprehensive weights of the indexes, and has a certain guiding significance for a grid company to comprehensively perform the aluminum alloy cable whole life cycle management.