The invention relates to a phase failure protector phase failure threshold setting method and device, a medium and computer equipment. The method comprises the steps that the voltage value outputted by the old probe in the phase failure test of an exciter is acquired so as to obtain each test voltage value; the voltage value of a new probe at each acquisition moment is acquired according to each test voltage value, the corresponding output voltage value of the old probe under multiple preset magnetic field intensity and the corresponding output voltage value of the new probe under multiple preset magnetic field intensity so as to obtain a simulation voltage value; the simulation voltage waveform is generated by using the simulation voltage value of the new probe at each acquisition moment; and the corresponding phase failure threshold of the phase failure protector equipped with the new probe is obtained according to the simulation voltage waveform. Therefore, the phase failure protector is equipped with the new probe and then the new phase failure threshold can be obtained without performing the phase failure test again so that tedious operation required for repeating the phase failure test can be omitted, the time duration for setting the phase failure threshold again can be greatly shortened and the setting efficiency is high.