The steam turboset is the key equipment of the electric power system. Thus, it is very important and necessary to monitor and diagnose the running condition and the faults of the steam turboset for the safe and normal running of the electric power system. In this paper, the Internet/Intranet based remote condition monitoring and fault diagnosis scheme is proposed. The corresponding technique and methods are discussed in detail. And a real application system is developed for the 300MW steam turboset. In this scheme, the system is built on the Internet/Intranet and the Client/Server construction and Web/Server model are adopted. The proposed scheme can guarantee real-time data acquisition and on-line condition analysis simultaneously. And especially, the remote condition monitoring and fault diagnosis can be implemented effectively. The developed system has been installed in a power plant of China. And the plant has obtained great economic benefits from it.