The　vibration　signals　of　core　and　winding　measured　from　the　transformer　oil　tank　with　vibration　measurement　system　are　investigated.　Based　on　the　theoretical　analysis　of　each　factor　inducing　vibration　of　core　and　winding,　the　experiments　validated　that　the　fundamental　frequency　magnitudes　of　core　and　winding　vibrations　are　linear　to　square　of　no-load　voltage　and　loading　current　respectively.　It　is　found　that　high　order　harmonic　contents　exist　in　the　core　vibration　signals　and　these　are　not　linear　to　square　of　no-load　voltage.　The　winding　vibrates　dominantly　at　100　Hz.　It　is　pointed　out　that　the　influence　of　no-load　voltage　on　core　vibration　and　the　influence　of　loading　current　on　winding　vibration　ought　to　be　considered,　especially,　for　the　situation　of　remarkably　undulatory　net-voltage.