The invention provides a transformer fault prediction method and device, a terminal and a readable storage medium. The transformer fault prediction method comprises the steps of building a concentration prediction model of a characteristic gas according to collected historical concentration and historical electrical parameters of the characteristic gas dissolved in the transformer oil; processingthe collected current concentration and current electrical parameters of the characteristic gas by using the concentration prediction model to obtain the concentration of the characteristic gas at thenext moment; and performing fault prediction according to the concentration of the characteristic gas at the next moment to obtain the predicted fault type. According to the fault prediction method,the association relations between oil-soluble gases and between an oil-soluble gas and other electrical parameters are firstly analyzed, then the concentration prediction model of each oil-soluble gasbased on the other gases and the electrical parameters is built, the oil-soluble gas concentration of a transformer at any moment in the future is predicted according to the concentration predictionmodel, fault prediction is performed according to the oil-soluble gas concentration, and the accuracy of transformer fault prediction is improved.