Because the traditional lightning arrester monitoring system has low reliability and it can’t be applied to electronic transformer, a new type of lightning arrester on-line monitoring solution based on optical fiber transmission is presented. Using the optical fiber for data communication and synchronized sampling, it enhances the level of system resistance to electromagnetic disturbance. Using FT3 replacing private RS-485 communication protocols, it improves the system openness. Using sampling point transmission instead of the current and voltage phasor, it provides reliable and effective basis data source for analysis and calculation. Using monitoring IED with the function of merging unit, it realizes current and voltage data aggregation, and is compatible with electronic PT and conventional PT. The result of testing and field operation shows that the lightning arrester monitoring device based on the solution is reliable to work and has a broad application prospect.