Purpose. The aim of this work is to develop a mathematical model of the generalized diagnostic indicator of the technical state of traction substations electrical equipment. Methodology. The main tenets of the experiment planning theory, methods of structural-functional and multi-factor analysis, methods of mathematical and numerical modeling have been used to solve the set tasks. Results. To obtain the mathematical model of the generalized diagnostic indicator, a full factorial experiment for DC circuit breaker have been conducted. The plan of the experiment and factors affecting the change of the unit technical condition have been selected. The regression equation in variables coded values and the polynomial mathematical model of the generalized diagnostic indicator of the circuit breaker technical condition have been obtained. On the basis of regression equation analysis the character of influence of circuit breaker diagnostic indicators values on generalized diagnostic indicator changes has been defined. As a result of repeated performances of the full factorial experiment the mathematical models for other types of traction substations power equipment have been obtained. Originality. An improved theoretical approach to the construction of generalized diagnostic indicators mathematical models for main types of traction substations electric equipment with using the methods of experiments planning theory has been suggested. Practical value. The obtained polynomial mathematical models of the generalized diagnostic indicator D can be used for constructing the automated system of monitoring and forecasting of the traction substations equipment technical condition, which allows improving the performance of processing the diagnostic information and ensuring the accuracy of the diagnosis. Analysing and forecasting the electrical equipment technical condition with the using of mathematical models of generalized diagnostic indicator changes process allows constructing the optimal strategy of maintenance and repair based on the actual technical condition of the electrical equipment. This will reduce material and financial costs of maintenance and repair work as well as the equipment downtime caused by planned inspections and repair improving reliability and uptime of electrical equipment.