A method and a system for evaluating inertia of a power system and a storage medium. The method includes: injecting a cosine active power disturbance into the power system by small-disturbance injection, and obtaining frequency response at a node where the disturbance is injected, where the active power disturbance can be an energy storage, wind power, or photovoltaic power; acquiring an evaluation framework of inertia and frequency regulation capability of the power system according to relative characteristics of a frequency response function; and constructing a mathematical relationship between the impedance and frequency response characteristics according to a relationship among active power disturbance, frequency fluctuation and impedance.