The method for monitoring the condition of the hydraulic system for predicting the risk of failure is designed for hydraulic systems, whose components include at least one pump (1) for transporting fluid through the distribution system of the hydraulic system. The hydraulic system simultaneously detects at least one current magnitude of pressure and the current value of speed of the pump (1), whereupon the current speed value is compared with the trend speed value obtained from the statistically processed archived data of speed from the previous operation of the pump (1) and/or with the reference speed value of the pump (1), whereupon the comparison result provides the condition and risk of failure of the hydraulic system.