The invention provides a relay protection simulation method and system, and relates to the technical field of relay protection of electric power systems; the relay protection simulation method comprises the following steps of acquiring a protection dead zone fault point by establishing a TA model; performing power grid fault calculation according to the fault information of the protection dead zone fault point, and obtaining the short circuit power direction of each branch; carrying out topology searching according to the protection dead zone fault point, obtaining the equipment connected withthe protection dead zone fault point, and recognizing a protection action range according to the equipment and the TA position; performing comparison between the short circuit power direction and theprotection action range with the corresponding fixed values respectively, and starting a protection queue according to the comparison result; and under a condition that the time limit is met, performing protective isolation on faults in the protection queue. By adoption of the relay protection simulation method, the dead zone fault in 2/3 wiring of a transformer substation can be subjected to simulation effectively, so that the development cost of the simulation system is saved, the working skills of related workers are improved, the processing time of the dead zone faults is shortened, and the capability of resisting and preventing risks is enhanced.