This paper describes the characteristic evaluation of 154kV lightning arrester developed by domestic technology. To prove the protective ability of lightning arrester developed, various overvoltages were analyzed for A and B arrester were being used now at 154kV air and gas insulation substation, and for arrester developed. The results obtained by the various simulations show that the developed arrester has the effective protective ability and reducing ability of the overvoltage as A and B arrester, nevertheless there are somewhat differences among three kinds of arresters. Accordingly, it is evaluated that the arrester developed by domestic technology secured reliability can be installed actually at 154kV substation. In this paper, EMTP/ATP was used for simulation.