Abstract: Asset management performance evaluation is an important part of enterprise asset management. In order to improve asset management performance evaluation system of distribution network (DN) in China, a new performance evaluation model of life-cycle asset management is proposed. Firstly, through an in-depth analysis of development characteristics of DN and the various demands of users in China, based on interface between users and DN, a comprehensive performance evaluation system is constructed for asset life-cycle management covering economy, service efficiency and social benefits and other aspects. Based on the preference of decision makers, the normalization method of the range transformation is improved. According to the purpose of enterprise and the characteristics of each index, an optimal combination weighting method, which takes both subjective and objective factors into consideration, is used to weight the service efficiency and social benefit indexes. Based on this, the performance evaluation model and calculation method of DN asset management are established. Finally, the evaluation method is applied to the performance evaluation of annual assets management of the DN in 14 counties of a municipal power company.