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The time series intervals of wind speed and wind power prediction are from a few minutes to ten minutes, which are used for power system energy dispatch, and the power is a mean value in the interval. But physical parameters for wind, such as instantaneous wind speed, maximum wind speed, average wind speed, cannot describe the relationship properly between the wind speed and average wind power in the interval, with which it cause a great error. Therefore, a new physical parameter is defined, which is named as equivalent wind speed, and the way to measure and calculate it are given in the paper. Functional relation between equivalent and average wind speed is gained from the analysis on physical experiment data later. At last it introduced an engineering example in wind power prediction, and it shows a satisfied result in application.