Power transformer undergo aging overtime that degrades its insulation system. Oil-immersed paper insulation degradation in transformer can be assessed through the change in oil characteristics and the dissolved gases. Data related to these parameters are abundant, but study on correlation among these parameters and the operating time of power transformer is still limited. This paper presents statistical insights into aging of transformer insulation system through oil characteristics, dissolved gases and the operating time of transformer. As much as 219 in service 150 kV transformers population testing data were included in this study. The data was analyzed using linear regression correlation analysis to Figureure out the dependency of each parameters. Statistical correlation between each properties of oil insulation, dissolved gases and operating time were carried out. There are some oil properties that have correlation with operating time, which are color scale, IFT and acidity. Moreover, color scale, IFT and acidity shows dependency among them. IFT tends to gradually decrease while acidity increases as operating time trend rises. On the other hand, operating time are also highly correlated with CO and CO2, which are commonly known as the main product of paper insulation degradation in transformers. Correlation among prior correlated parameters found that CO is strongly correlated with color and IFT. Subsequently, a high correlation coefficient of parameter to operating time could be interpreted that the ageing process happens during the life of a transformer changes certain parameters which these changes should be noticed for better decision making whether the transformer still feasible to be used in the system with certain maintenance or should be replaced.