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With the fast development of the smart grid technology in china, more and more attentions were paid to the condition-based maintenance of the high voltage equipment. To realize the objectives, the standardizations of the online monitoring system hierarchy structure and function are the key steps in the development of the online monitoring system in pilot smart substation project. According to the relevant published online monitoring standards, technical guides and solutions, this paper first introduces the basic structure and function of the high voltage online monitoring system of the smart substation. After that, the detail terms about the monitoring device, comprehensive monitoring unit, substation monitoring unit and communication protocols were covered respectively. To implement the design solution of the online monitoring system, based on a newly built pilot 500kV smart substation project, a pilot transformation equipment online monitoring system and its features were presented.