System for monitoring oil level and detecting leaks in power transformers, reactors, current and potential transformers, high voltage bushings and the like, notably for a system that through the use of sensors and other electronic components measures and monitors transformers and similar equipment in real time, filled with insulating oil, with greater precision and without need for floats or mobile mechanical parts, while presenting countless facilities in the sense of making level monitoring more reliable and safer, highlighting the level error calculations, oil leak detection alarm, excess oil detection alarm during the equipment filling process and calculation of tendencies of evolution for levels among other facilities.