The safety of the transmission lines maintains the stable and efficient operation of the smart grid. Therefore, it is very important and highly desirable to diagnose the health status of transmission lines by developing an efficient prediction model in the grid sensor network. However, the traditional methods have limitations caused by the characteristics of high dimensions, multimodality, nonlinearity, and heterogeneity of the data collected by sensors. In this paper, a novel model called LPR-MLP is proposed to predict the health status of the power grid sensor network. The LPR-MLP model consists of two parts: (1) local binary pattern (LBP), principal component analysis (PCA), and ReliefF are used to process image data and meteorological and mechanical data and (2) the multilayer perceptron (MLP) method is then applied to build the prediction model. The results obtained from extensive experiments on the real-world data collected from the online system of China Southern Power Grid demonstrate that this new LPR-MLP model can achieve higher prediction accuracy and precision of 86.31% and 85.3%, compared with four traditional methods.