The faults of the machines appeared suddenly usually cause to huge losing. So it’s important to monitor and analyze the condition of the machines. Now, more and more methods have been applied to condition monitoring and fault diagnoses. The spectral analysis technique has been widely used to detect the contents of abrasive metal in the lubricating oil. To mine the spectral data better, a method was put forward, which can be used to build the healthy record and reveal the important information about the operated conditions of the equipment. In the method, the similar information of the principal component in oil was obtained in the stable abrasion of the different friction pairs of equipment. The composition of mechanical and electrical equipment was also gained. The healthy record was created preliminarily according to all the information. In the malfunction detection of the equipment, cooperated with the data of the threshold of oil, the analysis results of spectra can be compared with the healthy record. So, the abnormal abrasion can be judged accurately.