The invention provides a transformer bushing insulation moisture state evaluation method based on oscillatory waves. The method comprises the following steps: building an experiment platform, simulating different moisture states of bushing insulation, measuring oscillatory wave curves under the normal and moisture conditions of a bushing, performing de-drying fitting, calculating attenuation similarity of the curves to judge whether the bushing is affected with moisture, and further calculating equivalent area similarity of the curves to judge the moisture degree of the bushing insulation. Themethod for evaluating the moisture degree of the bushing insulation can judge the moisture degree of the bushing insulation conveniently, quickly, simply and accurately.