The invention discloses a low-frequency-band multi-sine signal design method for electric power system state space model identification. The method comprises the following steps of determining each harmonic component amplitude, each harmonic component frequency and a sampling length of a low-frequency-band multi-sine signal x (t); Then, defining a wave crest factor of the low-frequency-band multi-sine signal x (t); converting a wave crest factor minimization problem into a wave crest factor minimization problem; gradually increasing the p value of the lp norm, and solving a column vector pp composed of the harmonic wave phases (please see the formula in the specification), so as to minimize the lp norm of the low-frequency band multi-sine signal x (t); And finally, solving the problem by adopting an algorithm, wherein p is set as 4, 8, 16, 32, 64, 128, 256, 512 ... in sequence. For each set p value, adopting a Gauss Newton method in combination with Levenberg-Marquardt algorithm to solve a column vector pp, so that the lp norm of x (t) is minimum; And when p is set to be 512, the approximation requirement can be met, so that the low-frequency-band multi-sine signal x (t) meeting the requirement is solved. The input signal designed by the method disclosed by the invention simultaneously meets the time domain waveform amplitude limiting requirement and the frequency domain energyconcentration requirement.