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The layout of ultra high voltage (UHV) optimal location takes an important role in the construction of UHV power network. Taking it as the aim, the comprehensive evaluation indexes and evaluation method for selecting of UHV optimal location are studied in this paper. At first, the system of evaluation indexes which takes economy, security, characteristics of the location region, prospective adaptability and coordination into consideration are established. Then the optimal selection method based on grey comprehensive evaluation which using moment estimation theory to weight is developed. And the application of the presented evaluation method in UHV optimal location is explored as well. The method takes the decisionmaker's subjective weights and objective weights as the standard, and takes the minimum sum between the integration weights and subjective and objective weights as the object, through establishing the optimal combination model based on the moment estimation theory, the optimal combination weights can be arrived at by solving the best solution of the optimal combination model. On this basis, combined with grey relational degree, the grey comprehensive evaluation method of UHV optimal location based on the optimal combination weights is realized. In the end, the proposed Evaluation Index framework and method are used to select the optimal location of the new UHV substation in Hubei province. And Wuhan is recommended as the optimal location. At the same time, the results not only show the effectiveness and feasibility of the proposed evaluation index system and optimal selection method, but also indicate that it has pretty application value in the layout of substation location.