The reliable identification of fault types in transmission lines is essential for restoring power supply swiftly and minimizing economic losses during outages, thereby ensuring the safe and efficient functioning of the power system. This paper addresses the challenge of low recognition accuracy in existing transmission line fault diagnosis methods and presents a novel approach based on fault recording data collected from both ends of the line. This method distinguishes between lightning-strike and non-lightning-strike faults, utilizing a deep learning network architecture to analyze time-domain information from recorded data, using the initial and terminal waveforms as inputs. The proposed fault identification model integrates fault current phase mode transformation, Local Mean Decomposition (LMD) decomposition, and spectral entropy analysis, applying deep learning principles to enhance fault detection precision. This comprehensive approach enables the effective identification of various fault types on transmission lines. Extensive simulation tests were conducted using a sophisticated fault simulation model developed within simulation software to validate the proposed algorithm’s efficacy. The results demonstrate the algorithm’s high accuracy and efficiency in recognizing various fault types on transmission lines.