Abstract: With the continuous expansion of the power grid, the demand for power supply reliability is constantly increasing. Compared to the traditional periodic maintenance model, the condition-based maintenance strategy, which relies on the actual operational status of equipment, demonstrates significant advantages in improving maintenance efficiency, reducing operation and maintenance costs, and ensuring the safe and stable operation of the power grid. The article elaborates on the connotation and advantages of condition-based maintenance for power equipment, explores the application of key technologies in condition-based maintenance, and proposes specific strategies to enhance its implementation. The study reveals that constructing an information management system covering the entire lifecycle of equipment, integrating various technical means such as online monitoring, offline testing, and disassembly inspections, and establishing a scientific fault diagnosis and maintenance decision-making process, are the core approaches to elevating the application level of condition-based maintenance for power equipment.