To improve the early degradation detection capability of the electrostatic monitoring system for rolling bearings, a performance degradation evaluation method based on improved deep denoising autoencoder (IDDAE) and adaptive density peak clustering (ADPC) is proposed in this paper. Firstly, the fusion of electrostatic charge signal features with conventional time-domain, frequency-domain and time-frequency-domain features constitutes the characteristic parameter set of the electrostatic monitoring system indicating the status of the bearings. Then, in order to improve the feature extraction ability of DAE, the deep network DDAE is constructed, and L1 regularisation and Dropout mechanism are applied to avoid overfitting in the deep network, so as to achieve non-linear mapping dimensionality reduction of high-dimensional features. Moreover, to eliminate the error caused by manually selecting the clustering centre, the parameters are adaptively determined by entropy value method and comprehensive optimisation search on the basis of DPC, thus avoiding the "chain effect" that occurs in traditional DPC when data are incorrectly aggregated due to incorrect assignment of clustering centres. Consequently, an improved ADPC algorithm is used to establish a model to measure the health status of bearings, calculate the Mahalanobis distance (MD) be-tween the test set and the cluster centre, and quantitatively characterize the degree of performance degradation of rolling bearings. Finally, combining the 3σ principle, a repair method that can satisfy online monitoring and adapt to spurious fluctuations in different situations is established on a sliding window to obtain an improved index IMD that can accurately characterise the rolling bearing degradation process. The experimental results show that the proposed method can identify early bearing degradation earlier and has better monotonicity, robustness and tendency than other performance degradation assessment methods.