A smart sensor network for power grid health monitoring includes a plurality of spaced sensors that are magnetically coupled to the power transmission line to be monitored. The sensors include a signal injection unit and a signal sensing unit. As such, one of the sensors acts to inject, via its signal injection unit, a high frequency signal through the magnetic coupling into the power transmission line, while sensors on either side of the signal injecting sensor act to block the injected signal, which is then detected by the signal sensing unit of the injecting sensor, and is used to measure the impedance of the power transmission line segment being analyzed. Based on the difference between a pre-measured impedance of the power transmission line being monitored and the actual impedance value of the power transmission line being measured by the sensor, the health of the power line can be obtained.