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Seeking a protection reliability system about basic data accumulation, reliability assessment, and improvement measures application has attracted attentions, but there are few discussions about its establishment. Based on characteristics of protection reliability, “3RF” technique-relay failure mode effect analysis (RFMEA), relay fault tree analysis (RFTA), relay failure reporting, analysis, and corrective active system (RFRACAS) is proposed, which could be used as a tool for protection reliability data collection, reliability modeling and quantitative analysis, as well as improvement measures formation. In RFMEA, protection failures are classified and an example of functional protection hardware RFMEA is given. In RFTA, a dynamic fault tree (DFT) model and its quantitative analysis based on sequential Monte Carlo (SMC) simulation is proposed to supply a basis for assessing protection reliability, searching weakness, and improving design and operation reliability of repairable redundant digital protection system. An application in a practical protective production is given to demonstrate the effectiveness of the proposed method. A closed-loop RFRACAS of protection system is illustrated. The combination of RFMEA, RFTA, and RFRACAS is analyzed at last.