A soft fault in an analog circuit is a symptom where the parameter range of a component exists symmetrically to the left and right of its nominal value and exceeds a specific range. The proposed method uses the Grey Wolf Optimization (GWO) optimized tunable Q-factor wavelet transform (TQWT) algorithm for feature refinement, the Inception model for feature extraction, and an SVM for fault diagnosis. First, the Q-factor is optimized to make it more compatible with the signal. Second, the signal is decomposed, and a single-branch reconstruction is performed using the TQWT to extract features adequately. Then, fault feature extraction is conducted using the Inception model to obtain multiscale features. Finally, a Support Vector Machine (SVM) is used to complete the entire fault diagnosis process. The proposed method is comprehensively evaluated using the Sallen–Key bandpass filter circuit and the four-op-amp biquad high-pass filter circuit widely used in electronic systems. The experimental results prove that the proposed method outperforms the existing methods in terms of diagnosis accuracy and reliability.