The vibration signal of transformer will be affected by various factors during operation. n this paper, theoretical and experimental methods are used to study the vibration signal of oil immersed power transformer affected by the installation position of vibration sensor, the degree of compaction of iron core and winding, load power factor, load three-phase imbalance and insulating oil viscosity. The results show that the top test position can better reflect the vibration signal characteristics, the compression degree of iron core and winding is inversely proportional to the vibration intensity, the three-phase imbalance degree is directly proportional to the vibration intensity, the power factor affects the vibration signal spectrum complexity, and the viscosity of insulating oil has little impact on the vibration signal.