The invention discloses a power system state estimation method of considering actual measurement error transfer characteristics. The method comprises the steps of firstly, analyzing error expression forms of various direct measurement signals in actual acquisition and transmission processes and correcting traditional error white noise conditions to obtain a mapping relationship between the direct measurement signals and calculation and measurement data; secondly, calculating an expected value and a standard deviation of various calculation and measurement data by utilizing an obtained measurement error transfer characteristic model and obtaining the standard deviation and a covariance of all calculation and measurement data under the latest measurement model; thirdly, building a measurement error transfer characteristics-based calculation and measurement error covariance matrix in a state estimation model to replace a traditional measurement error diagonal matrix; and finally estimating a state variable of a system. By the power system state estimation method, the actual measurement error transfer characteristics are accurately considered in the state estimation process; the state estimation accuracy is improved; and the power system state estimation method is easily combined with existing state estimation software.