Partial discharge (PD) signals have a large amount of data and a low energy proportion of pulse signals, resulting in difficult data transmission and poor reconstruction efficiency. To this end, a PD signal compression reconstruction method based on transfer sparse representation and dual residual ratio threshold (TSR‐DRRT) is proposed. TSR‐DRRT is centred on the sparse representation (SR) and accurate reconstruction of noisy signals. The intrinsic pulse of PD signals is extracted by signal decomposition, and jointly trained with different types of signals to establish the transfer SR dictionary. The compressed signal accurately retains the essential characteristics of the pulse information by improving the match between the dictionary atoms and the polymorphic PD pulses. To match the transfer SR dictionary, the inner and outer DRRT iteration termination conditions are set adaptively during the reconstruction process based on the correlation difference between the dictionary and signal frames. Independent control of PD pulse recognition and reconstruction accuracy is achieved, and its performance under noisy signals is improved. The results show that the method can achieve high ratio compression and efficient reconstruction of noisy signals. Different types of PD signals can also have high matching accuracy. This method can meet the demand for PD signals compression and transmission to the terminal for accurate reconstruction.