The invention discloses a substation equipment management method and system, wherein the method comprises the following steps: monitoring the operation state of substation equipment and collecting theoperation state data of the substation equipment; summarizing the operation state data of the substation equipment, analyzing and pre-judging the summarized state data, generating an analytic prejudgment conclusion, and generating a secondary judgment conclusion for the analytic prejudgment conclusion; and sending the analytic prejudgment conclusion and the secondary judgment conclusion to a user. The operation state of the substation equipment is monitored, the operation state data of the substation equipment is collected, the operation state data of the substation equipment is summarized, the summarized state data is analyzed and prejudged, an analytic prejudgment conclusion is generated, a secondary judgement conclusion is generated for the analytic prejudgment conclusion, and the analytic prejudgment conclusion and the secondary judgment conclusion are sent to the user, thereby improving the early warning performance for operation faults of the substation equipment and controllingthe substation equipment more intelligently.