With practice of power network planning, this paper studied life cycle cost model and calculation method applied to certain provinence. The model considered power enqipment purchase, operation, maintenance cost and discard cost, furthmore, power network loss cost, land opportunity cost, environmental protection cost were also included. LCC evaluation of certain typical power project in “The 12th five-plan” indicated that the recommendation scheme conformed to the idea of life cycle asset management with less life cycle cost.