The present invention belongs to the electrical equipment technical field and provides a power transformation equipment defect processing method and terminal equipment. The method includes the following steps that: the target equipment identifier of target power transformation equipment is obtained; target power transformation equipment information corresponding to the target equipment identifieris obtained according to corresponding relations between pre-stored equipment identifiers and equipment information; the defect information of the target power transformation equipment is obtained; the defect level of the target power transformation equipment is determined according to the defect information; and the defect detection report of the target power transformation equipment is generatedaccording to the target equipment information, the defect information and the defect level. With the power transformation equipment defect processing method provided by the embodiments of the presentinvention adopted, the defects of the power transformation equipment of a substation can be detected and processed conveniently and rapidly. The method has the advantages of short detection processing time and high processing efficiency.