The invention discloses a wireless sensor network-based cooperative monitoring system of a multi-sensor and multi-parameter distribution network. The system comprises a multi-source heterogeneous sensor node model, an information fusion part and a multi-source heterogeneous information collaborative decision unit. The information fusion part comprises a collaborative management unit, a fault diagnosis unit, an information judging unit, an information reasoning unit, an information fusing unit and a perceptual learning unit. Multiple signal output ends of the multi-source heterogeneous sensor node model are respectively connected with the signal input ends of the collaborative management unit, the fault diagnosis unit, the information judging unit, the information reasoning unit, the information fusing unit and the perceptual learning unit. The signal output ends of the collaborative management unit, the fault diagnosis unit, the information judging unit, the information reasoning unit, the information fusing unit and the perceptual learning unit are respectively connected with the multi-source heterogeneous information collaborative decision unit. According to the technical scheme of the invention, based on the combination and the cooperation of all units through information fusion, the running state of power equipment can be monitored. Meanwhile, the fault diagnosis analysis function and the intelligent aid decision making function for the power equipment are realized.