A method for diagnosing life of manufacturing equipment having a rotary machine, includes: measuring reference time series data for characteristics before deterioration of the manufacturing equipment occurs; finding a reference auto covariance function based on the reference time series data; extracting a reference variation caused by variations of the process condition and power supply from the reference auto covariance function, and calculating a cycle of the reference variation; measuring diagnostic time series data for the characteristics in a sequence to be measured of the manufacturing equipment; finding a diagnostic auto covariance function based on the diagnostic time series data; and determining the life of the manufacturing equipment from the diagnostic auto covariance function using a component with a cycle shorter than a cycle of the reference variation.