Embodiments of this application provide a service survivability analysis method and apparatus, and relate to the field of communications technologies, so as to shorten duration of service survivability analysis and improve efficiency of the service survivability analysis. The method includes: obtaining a link fault record and network topology information that are in a preset time period; determining a similarity between any two links in all faulty links based on fault occurrence time and fault removal time of the any two links in the link fault record and connection information of network devices on the any two links, to obtain a link similarity matrix; performing clustering on all the faulty links based on the link similarity matrix, to obtain at least one link cluster; and performing survivability analysis on services on at least two preset links based on each of the at least one link cluster.