The invention discloses a power protection method and equipment for a FACTS device. The FACTS device comprises converter valves, a transformer and a system access area, wherein there are at least twoconverter valves, the direct current (DC) sides of the two converter valves are connected by a DC line, and the alternating current (AC) sides of respective converter valves are connected to the system access zone through a transformer. The method comprises the following steps: acquiring an AC voltage of the AC side of the at least one converter valve; extracting a DC component of the AC voltage;and performing primary protection or backup protection according to the DC component of the AC voltage. The method, by performing main protection or backup protection according to the DC component ofthe AC voltage of the AC side of the converter valve or the AC component of the DC voltage of the DC side of the converter valve, can send an alarm signal to the background of the flexible substationin a timely manner by means of overvoltage protection respectively when a ground fault occurs in the AC area on the AC side of the converter valve, and a ground fault occurs in the DC area on the DC side of the converter valve.