The invention discloses a substation site lightning impulse and oscillation lightning impulse voltage test device which includes an impulse voltage generator, a wave front resistor, a wave front inductor, a wave tail resistor, a change-over switch and an impulse voltage measurement and control system. The high-voltage end of the impulse voltage generator is connected with one end of the wave tailresistor and one end of the wave front resistor. The other end of the wave tail resistor is grounded. The other end of the wave front resistor is connected with one end of the wave front inductor andone end of the change-over switch. The other end of the wave front inductor is connected with the other end of the change-over switch to form an output end. The impulse voltage measurement and controlsystem is used for controlling the charging and triggering of the impulse voltage generator. Both a lightning impulse voltage and an oscillation lightning impulse voltage can be generated. Interactive generation of a lightning impulse voltage and an oscillation lightning impulse voltage can be realized by switching the elements of the test circuit only. The operation is convenient, and the cost of equipment is low.