Substation equipment identification is a key step in the process of intelligent substation designing. The target recognition of 3D point cloud of substation equipment firstly uses a 3D laser scanner to obtain the 3D point cloud data that can express the surface shape and spatial position of a substation device, then identify the device information by matching it with template point cloud data. Because the point cloud data obtained by 3D laser scanner is affected by equipment attitude and substation environment, there is redundant, missing, and shadow phenomena in the data, resulting in a low algorithm recognition rate. This paper proposes a method combining plane detection and point cloud registration algorithm, achieving substation equipment identification better result. The main steps of the method include: point cloud preprocessing, plane detecting, preliminary filtering based on Umeyama registration method, and Iterative Closest Point (ICP) algorithm identifying. Plane detection is used for the pre-processed point cloud to obtain planar features, then samples and the planar feature templates in template library are preliminarily selected by Umeyama registration method, and substation equipment is finally identified by Iterative Closest Point algorithm. Experiments show that the recognition rate of devices point cloud reaches 92.2% and the recognition time is shorter, which proves that this recognition algorithm has a good recognition effect.