Water treeing is one of the main aging in XLPE cable insulation, which has the direct effect on the reliability of cable long-term operation. The diagnosis of water tree aging is a premise to ensure the safe operation of cables. The water treed XLPE insulation shows a nonlinear conductivity characteristic, which leads to a harmonic component in the corresponding lose current under the standard sinusoidal voltage. So the loss current harmonic component method can be an effective diagnosis of water tree aging. The loss current measurement system based on the high voltage current comparator bridge is used in this paper, which is designed by Harbin University of Science and Technology and Jiangsu Electric Power Company Research Institute. The feasibility of the application of variable frequency series resonant power source in the loss current measurement, which is aimed to diagnose the water treeing in XLPE insulation, is studied in the laboratory and field test. The results show that the output voltage waveform of the variable frequency series resonant power source is quite close to the standard sinusoidal voltage, although there are some high frequency sharp peaks. So the variable frequency series resonant power source can be used as the high voltage test power supply in the loss current harmonic component measurement system. The loss current harmonic component has power frequency interference during the field test, but this can be solved by differential frequency principle. The microscopic observation of water tree structures during the anatomy of the cable not only indicates the effectiveness of the results and diagnosis during the field test, but also proves the feasibility of the application of variable frequency series resonant power source in the loss current measurement. The existence and degree of the water tree can be estimated according to the test results, which can be a strong basis of the standardization of water tree aging diagnosis. Furthermore, the expensive standard sinusoidal wave generator and linear power generator is replaced by the variable frequency series resonant power source, which reduces the cost and weight of the testing system.