The invention discloses an automatic recognition method of a transformer substation touring robot and the touring robot. Graphic image analysis results of an LED display screen and an indicator lamp panel are obtained according to shooting of the touring robot for the LED display screen and the indicator lamp panel, then, the steps of pretreatment, zoning, recognition and output are carried out, accordingly, the information of the LED display screen and the indicator lamp are displayed in a digital mode, and the touring robot can recognize the transformer substation state displayed on an instrument and then outputs the recognized result to engineering technicians. The process of manual image recognition is omitted, the dead zone and mistaken judgment possibly caused by manual operation are avoided, the touring efficiency is improved, the labor cost is saved, and touring stability and reliability are improved.