The invention provides a substation electrical equipment overhaul wire grounding device, which comprises an insulation operating rod, a mounting locking assembly, a grounding wire and a reversing transmission device, wherein the mounting locking assembly is used for being mounted with an electrical equipment wire when being used, the grounding wire is electrically connected with the mounting locking assembly, the reversing transmission device is horizontally or vertically arranged according to the substation electrical equipment wire, vertically or horizontally connected with the mounting locking assembly and fixedly connected with insulation operating rod, and the reversing transmission device includes a gear box, a first bevel gear, a second bevel gear, a bearing, a vertical rotating shaft, a transverse rotating shaft and a third connecting piece; and the mounting locking assembly includes a transmission rod, a fourth connecting piece, a threaded driving rod, an installation plate, alocking tongue, a mounting elbow and a grounding wire fixing member. The device provided by the invention can enable the locking tongue of the mounting locking assembly to move upward or left throughthe transmission of the reversing transmission device by rotating the insulation operating rod in use so as to clamp and ground the horizontal or vertical wire under the coordination of the mountingelbow. The substation electrical equipment overhaul wire grounding device is convenient to operate, safe and reliable in use and improves the work efficiency.