The insulation aging characteristics and structural analysis test were performed to analyze the correlations among the insulation deterioration, diagnostic results and the breakdown strength for the underground power cables. From the results of the degree of crosslinking test, hot-oil test etc., it could be confirmed that there were no manufacturing defects in the power cables under test. From the results of the water tree test and chemical structural analysis, it could be confirmed that the aging status of cable under test were very poor, especially for B-Phase and the degree of aging was increased in the orders of A, C and B-phase. From the above results, it could be concluded that the insulation aging characteristic analysis results were well consistent with the diagnostic and breakdown test results, and also confirmed that the diagnostic system under consideration was successful to discriminate the bad cables which is likely to cause cable system failure.