Equipment maintenance in substations is the basis of normal operation as well as an important channel through which to reduce the life-cycle cost（LCC）and realize balance between the utility and the cost.Firstly，on the basis of fuzzy time series，a fuzzy prediction is made of the reliability parameters of electrical equipment in the whole life cycle.Secondly，the age reduction theory is introduced.And with minimum equipment maintenance cost and failure cost of LCC as the objective，an optimization decision model for maintenance strategy is developed.Finally，the fuzzy programming theory is used to solve the model.The application example shows that the fuzzy programming model proposed can provide valuable reference for the formulation of equipment maintenance strategy and life-cycle management in substations.