The present invention provides a transformer fault simulation system. The system comprises a housing, a supporting body, a power discharging device and a temperature regulating device, wherein the housing is filled and provided with to-be-measured transformer oil; the supporting body is arranged in the housing and is used to install the to-be-measured insulating paper; the power discharging device is electrically connected with a power supply device and generates power discharging for the to-be-measured transformer oil; and the temperature regulating device is used for regulating the temperature of the transformer oil. The transformer fault simulation system provided by the invention can simulate both a partial discharge fault and a breakdown discharge fault of a transformer, and can also simulate the partial overheating fault of the transformer or simulates the partial discharge fault, the breakdown discharge fault and the partial overheating fault of the transformer at the same time, therefore, able to simulate the actual conditions of the transformer comprehensively, making the understanding of the transformer performance more comprehensive and more accurate and providing reference basis to determine whether transformer materials devoted prior to the operation have latent faults or not.