Abstract: With the expansion of power systems and the improvement of automation levels, the systematicity and reliability of substation safety protection design have become increasingly critical. To address the limitations of traditional protection design, such as incomplete risk identification and insufficient logical correlation, this paper proposes a substation safety protection design method based on fault tree analysis. By establishing a multi-level logical model of the protection system and defining key indicators such as comprehensive safety protection index, node vulnerability, and system importance, an optimization design model centered on risk propagation and importance evaluation is constructed. Verification through a substation safety management test platform demonstrates that the proposed method can accurately identify key nodes and effectively enhance system reliability.