The invention discloses a power system cascading failure analysis method based on dictionary set acceleration, comprising the following steps of S1, initializing the state set, the failure set, the path set of a power system cascading failure and reading initial data; S2, subjecting the current state of the power system to cascading failure analysis based on row Markov chain search; S3, ending thecascading failure analysis, and outputting the path set of the power system cascading failure. The method can accelerate the calculation of the power system cascading failure analysis, and helps to improve the frequency and modeling accuracy of the cascading failure analysis, thereby improving the ability of the power system to deal with the cascading failures.