The invention discloses a complete set of tools and instruments for live replacement of twin V-type suspension composite insulators, which comprises a cross arm side clamp, a conductor side clamp andtwo three-fixed-pulley four-movable-pulley blocks. The fixed ends of four-pulley frames in the two three-fixed-pulley four-movable-pulley blocks are respectively fixed on the two sides of the cross arm side clamp. The clamp body of the cross arm side clamp is fixed to the cross arm side end. The fixed ends of three-pulley frames in the two three-fixed-pulley four-movable-pulley blocks are respectively fixed on the two sides of the conductor side clamp. The clamp body of the conductor side clamp is fixed to the conductor side end. One end of a traction line in each three-fixed-pulley four-movable-pulley block is connected with a hand winch, and the other end of the traction line is fixedly connected with a transmission tower after being wound on the four pulleys and the three pulleys. By means of the complete set of tools and instruments in the application, more twin V-type composite insulator strings at present can be safely and easily replaced, and faulty composite insulator strings can be detected and replaced in time under live condition. The complete set of tools and instruments is simple to operate and convenient and fast to use, and can reduce the potential safety hazards onsite.