Smart meter is important electrical measuring equipment in smart grid, and the operation reliability will directly affect the safety and stability of power grid. It is difficult to carry on the life prediction experiment individually because there has a large number of smart meters in power grid. Therefore, It is important practical significance that to establish life prediction model which could accurately predict running smart meter, for life prediction of smart meters. In this paper, taking a smart meter produced by domestic factory as an example, based on analyzing the working principle, the Matlab/Simulink software is used to establish the voltage sampling, current sampling and metering model. Further, the Peck acceleration model is adopted to establish life prediction model, and the accelerated life experiment is designed and the correctness of the model is verified. The achievements of this paper can provide the important technical for life prediction of the smart meters in China power system.