According to the software reliability testing problem of the smart meters, this paper has designed a smart meter software reliability testing system based on FPGA simulation technology, which using the FPGA to simulate the various functional chips of mart meter, to realize the software reliability testing of the smart meters. Then, it has verified the performance of the testing system. Verification results show that, it can test the depth software defects for different manufacturers" smart meters when the smart meters being in limit condition. The smart meter software reliability testing system has effectively improved the maturity and reliability of smart meter software, and reduced the batch failure of smart meters.