The invention relates to a transformer oil level gauge based on pressure sensing and temperature correction. The transformer oil level gauge is characterized by comprising an oil level gauge body, anoil level gauge dial plate, a pressure sensor, a temperature sensor and an oil level gauge measurement circuit. The oil level gauge body is fixed to the lower end of the outer wall of a transformer oil storage cabinet through a flange, the oil level gauge dial plate is arranged at the outer side of the oil level gauge body, and the pressure sensor is arranged on the lower portion of the flange; the temperature sensor is arranged on the upper portion of the flange, and the oil level gauge measurement circuit is arranged in the oil level gauge bod and connected with external equipment through apower supply and a signal cable. The transformer oil level gauge is arranged at the bottom of the side wall of the transformer oil storage cabinet, the pressure sensor measures the pressure of oil inthe transformer oil storage cabinet, the density of the oil is corrected through the temperature sensor, the functions of accurately measuring and monitoring the oil level of the transformer capsule-type or diaphragm-type oil storage cabinet in real time are achieved accordingly, the effect of remotely monitoring the oil level is achieved, the transformer oil level gauge is accurate in measurementand high in precision, and meanwhile the function of remotely reading the oil level is achieved.