Dry-type air core reactors are important equipment in power systems that limit short-circuit currents and provide reactive power compensation. Timely fault detection and maintenance are crucial for the safe and reliable operation of power networks. To improve the accuracy of online monitoring of faults in dry-type air-core reactors, a parameter identification model based on RLS-GA is proposed. Firstly, RLS is used to preliminarily identify the equivalent electrical parameters, including equivalent resistance and equivalent reactance of the dry-type air-core reactor. Then, the preliminary identification results are used as initial parameters for secondary identification using GA, and finally, the equivalent parameter identification values of the dry-type air-core reactor are obtained. The accuracy of the parameter identification model for dry-type air-core reactors based on RLS-GA was verified through simulation examples.