The invention discloses a substation seismic evaluation system and method. Corresponding sensors are arranged on main buildings and electrical equipment in a substation, vibration parameters of the buildings and the electrical equipment in the substation are collected through the corresponding sensors, by combining a substation seismic hazard database capable of representing the operation state ofthe substation, invalidation coefficients of seism to the electrical equipment, civil engineering facilities and power stations in the substation are evaluated, and the reliable basis is provided forlater seismic fortification of the substation. According to the substation seismic evaluation system and method, the sensors are adopted for data collection, and thus the substation seismic evaluation system is low in cost and easy to use widely; the substation seismic evaluation system is simple in mounting layout mode, easy to operate and easy to implement; data collected by the substation seismic evaluation system are easy to organize and process; in addition, personnel in the field can conduct mounting according to the voltage class of the substation and the importance degree of the equipment, the sensors with the different functions are mounted, and high flexibility is achieved; and meanwhile, normal operation of the substation is not affected by the fact that the sensors are mountedon the electrical equipment and the buildings in the substation.