The invention puts forward a lithium battery capacity and service life prediction method based on a generalized degradation model and multiscale analysis. The method comprises the following steps of: firstly, carrying out phase space reconstruction on historical capacity degradation data, utilizing reconstructed data to fit the generalized degradation model, obtaining a model parameter, and fitting a root-mean-square error; secondly, in multiple scales, carrying out forward estimation on a future capacity, and obtaining a forward prediction result through weighted integration; thirdly, adding a prediction result into a known sequence, and carrying out forward iterated prediction; and finally, judging whether a multi-step prediction result achieves a failure threshold value or not, and calculating remaining service life. By use of the generalized degradation model which is put forward by the invention, a complex combined degradation rule can be fit, and the model has the advantages of high universality, wide applicable range and small fitting error. On the basis of phase space reconstruction, multiscale prediction is carried out, a prediction result is obtained through the weighted integration, and the prediction result is unlikely to interfere by noise and is high in accuracy.