The Jiangyin Bridge is a suspension bridge with a main span of 1385 m over the Yangtze River in Jiangsu Province, China. Being the first bridge with a main span exceeding 1 km in Chinese mainland, it had been instrumented with a structural health monitoring (SHM) system when completed in 1999. After operation for several years, it was found with malfunction in sensors and data acquisition units, and insufficient sensors to provide necessary information for structural health evaluation. This study reports the SHM system upgrade project on the Jiangyin Bridge. Although implementations of SHM system have been reported worldwide, few studies are available on the upgrade of SHM system so far. Recognizing this, the upgrade of original SHM system for the bridge is first discussed in detail. Especially, lessons learned from the original SHM system are applied to the design of upgraded SHM system right away. Then, performance assessment of the bridge, including: (i) characterization of temperature profiles and effects; (ii) recognition of wind characteristics and effects; and (iii) identification of modal properties, is carried out by making use of the long-term monitoring data obtained from the upgraded SHM system. Emphasis is placed on the verification of design assumptions and prediction of bridge behavior or extreme responses. The results may provide the baseline for structural health evaluation.