The invention relates to a device for measuring electrical performance of a zinc oxide arrester. The device comprises a wired measurement unit, a wireless measurement unit, a sensor module for measurement, a signal processing module, a main control module and a power module, wherein the wired measurement unit comprises an analog-digital conversion module electrically connected with the sensor module in a wired manner; the wireless measurement unit comprises a wireless module; the wireless module acquires data directly from the sensor module through a wireless signal and transmits the data to the signal processing module through the wireless module; the signal processing module is used for calculating and analyzing to obtain electrical data of the zinc oxide arrester and transmitting the electrical data to the main control module; the power module is used for supplying power to the whole device. The device can combine two modes of live measurement and online measurement, is simple and convenient in wiring, and can perform real-time operation analysis and display on measured data.