Recently, as the feasibility study shows that trans-Korea railway and trans-continental railway are advantageous, interest in high-speed railway system is increasing. Because railway vehicle is environment-friendly and safe compared with airplane and ship, its market-sharing increases gradually. KHST(Korean High Speed Train) has been developed by KRRI (Korea Railroad Research Institute) for last 6 years to satisfy the need. An electric railway system is composed of high-tech subsystems, among which main electric equipment such as transformers and converter are critical components determining the performance of rolling stock. We developed a measurement system for on-line test and evaluation of performances of KHST. The measurement system is composed of software part and hardware part. Perfect interface between multi-users is possible. A now method to measure temperature was applied to the measurement system. By using the system, fault diagnosis and performance evaluation of electric equipment in Korean High Speed Train was conducted during test running.