As more electric utilities and transmission system operators move toward the smart grid concept, robust fault analysis has become increasingly complex. This paper proposes a methodology for the detection, classification, and localization of transmission line faults using Synchrophasor measurements. The technique involves the extraction of phasors from the instantaneous three-phase voltages and currents at each bus in the system which are then decomposed into their symmetrical components. These components are sent to the phasor data concentrator (PDC) for real-time fault analysis, which is completed within 2–3 cycles after fault inception. The advantages of this technique are its accuracy and speed, so that fault information may be appropriately communicated to facilitate system restoration. The proposed algorithm is independent of the transmission system topology and displays high accuracy in its results, even with varying parameters such as fault distance, fault inception angle and fault impedance. The proposed algorithm is validated using a three-bus system as well as the Western System Coordinating Council (WSCC) nine bus system. The proposed algorithm is shown to accurately detect the faulted line and classify the fault in all the test cases presented.