The invention discloses substation intelligent electronic equipment time synchronization precision and punctuality precision test methods. The substation intelligent electronic equipment time synchronization precision test method comprises the following steps: S1, a time setting interface of a substation integrated automatic tester is connected with a standard time source, a tested IED device is connected with an in-station clock source, and the upper and lower ends of a detection hard pressure plate of the tested IED device are respectively connected with the positive and negative ends of an idle contact of the substation integrated automatic tester; S2, the substation integrated automatic tester sets the time through the standard time source, and the tested IED device sets the time through the in-station clock source; S3, the substation integrated automatic tester triggers the idle contact to be closed at a time T1; S4, the tested IED device receives an idle contact closing signal and generates an SOE record, where the SOE record is generated at a time T2; and S5, the absolute value of T1-T2, namely, the time synchronization precision of the tested IED device, is calculated. The test method is simple and convenient, and is of high test precision.