The invention discloses a transformer substation equipment state information display method and system based on LBS. The transformer substation equipment state information display method comprises adding a geographic position field to basic record information of transformer substation electrical equipment, and inputting latitude and longitude information of the transformer substation electrical equipment; obtaining, by a mobile terminal, the current position information and uploading the current position information to a grid production management system; obtaining, by the grid production management system, the current geographic position information of the transformer substation electrical equipment, comparing the geographic position information with corresponding transformer substation electrical equipment data in a power system database, obtaining electrical equipment state information which is the same as or similar to the geographic position information, and returning the electrical equipment state information to the mobile terminal; and displaying, by the mobile terminal, the obtained electrical equipment state information. Beneficial effects are that the transformer substation operation and maintenance staff can grasp the equipment real-time state information better, and the demand that the operation and maintenance staff can check equipment operation information in front of the equipment is satisfied.