Substation is a hub in the AC power system, and once a lightning damage accident occurs, it may cause large-scale power outages, with a very serious impact. Thunderclouds often cause multiple lightning strikes when discharging to the ground. The harm of multiple lightning strikes to substation equipment should not be underestimated, especially for substations with 500 kV and below. Although lightning protection measures have been taken, there are still loopholes and shortcomings. Multiple lightning strikes can cause circuit breaker breakage, circuit breaker outer porcelain sleeve flashover, GIS equipment faults, lightning arrester faults, and even explosions, which continue to occur and increase, seriously endangering personal, power grid, and equipment safety. Therefore, it is necessary to conduct a comprehensive and in-depth study on the characteristics of lightning intrusion waves under multiple lightning strikes. This article selects typical 220 kV and 500 kV substations to measure and simulate lightning intrusion waves. The comparative analysis of the results shows that the simulation waveform of lightning intrusion waves in substations is basically consistent with the measured waveform, and simulation calculation methods can be used to study the characteristics of lightning intrusion waves in substations. This result provides a basis for simulation based analysis of lightning intrusion wave accidents in subsequent substations, and is also conducive to the development of accident countermeasures.