The invention discloses a wire pole traction steel cable fastening device for electric power transmission and an installing method of the wire pole traction steel cable fastening device. A shell is included. The upper portion of the side wall of the interior of the shell is fixedly connected with a fixing rod. A rotation rod is fixedly connected to the lower portion of the side wall of the interior of the shell. The outer side wall of the rotation rod is in cup joint with a winch and a first gear. A steel stranded wire is wound around the outer side walls of the winch and a guiding wheel in aconnecting manner. A guiding groove is formed in the top of the shell. A protection cover is hinged to the top of the shell. A limiting base is welded to the side wall of the interior of the shell. The limiting base is internally in sliding connection with a fixing base. The top of the shell is evenly provided with four fixing assemblies with the tops penetrating through the bottom, the problems that when a cement stay wire disc and other heavy objects need to be placed, personal injuries can be caused to operation personnel or the traction effect cannot be achieved due to the insufficient dead load are prevented, and the work efficiency and safety guarantee of the operation personnel are effectively improved.