Disclosed are an apparatus and method for diagnosing electric power equipment. The apparatus includes a measuring unit including a pan/tilt module mounted on the top of a vehicle and an imaging module mounted on an upper portion of the pan/tilt module, a determination unit for determining whether electric power equipment is detected by the measuring unit, a controller for performing control to capture a thermal image of the electric power equipment using the measuring unit, and a processing unit for dividing the thermal image into an analysis target equipment region, a non-interest equipment region, and a background noise region through pattern analysis of the thermal image and diagnosing the electric power equipment as being normal or as being abnormal on the basis of temperature information included in the analysis target equipment region.