The invention discloses an improved power equipment asset management system and method, and relates to the field of power system management. The system comprises a data source module, a data integration module, an equipment asset quality assessment module, an equipment asset analysis module, a data display module and an instruction sending module. After configuration setting, no manual intervention is performed, power equipment assets are subjected to full-life-cycle management and accurate analysis autonomously and independently, and asset purchase and operation maintenance are accurately predicted and guided; and equipment is accurately managed, so that the cost is reduced and the asset management rationality and accuracy are improved.