The invention relates to the technical field of substation online monitoring, in particular to a three-dimensional visual substation online monitoring and alarming system and a utilization method thereof. The system comprises a database server, an application server, an online monitoring unit, an interface service unit and an application client. The database server comprises a real-time database, a substation foundation database and a substation model database. The application server comprises a substation three-dimensional scene model and a substation three-dimensional visual system platform. The application client comprises a data visual display unit and an alarming module. The three-dimensional visual substation online monitoring and alarming system and the utilization method thereof have advantages that monitoring and alarming of various abnormal conditions in a substation are realized, the substation three-dimensional visual system platform automatically judges substation state reflecting data such as equipment state data and gives dangerous state alarms by threshold setting and identification result analysis, and accordingly three-dimensional visual display of equipment parameters of the substation is realized, roaming is facilitated for users, and three-dimensional comprehensive monitoring and alarming of the substation are realized.