Under short-circuit conditions, power transformer windings are subjected to significant electrodynamic forces. The faults of spacers, which could not be apparent during normal operation, could significantly impact the mechanical stability of the windings in the event of a short circuit or similar occurrences, thus increasing the vulnerability of the transformer to damage and faults. Therefore, investigating the influence of spacers faults on the stress distribution and radial deformation of low-voltage windings in power transformers under short-circuit conditions is very significant for preventing, monitoring transformer defects and enhancing transformer stability. Taking a SFP10-180000/220 transformer as an example, this work conducted a simulation analysis to examine the stress distribution and radial deformation of transformer windings under various spacers faults. The results indicate that the middle portion of the winding experienced the highest stress and deformation, with the low-voltage winding experiencing greater stress and deformation compared with the high-voltage winding. Faults such as spacers failure and angular deviation lead to an increase in compressive stress and severe radial deformation in the low-voltage winding.