In order to accurately judge the transient stability state of a power system after a fault, a power system transient stability analysis method based on fault panoramic information is proposed. First, the factors affecting the system transient stability are analyzed, and the fault panoramic information is constructed. This information includes fault time, fault location, fault type and transition resistance. Then, the fault panoramic information is input into the final admittance matrix through a two shrinkage systems admittance matrix. The extended equal area rule is used to form a three-dimensional surface of the system transient stability margin in different fault scenarios. The transient stability boundary of the system is obtained by extracting the intersection line between the surface and the zero margin surface. Finally, the IEEE 3-machine 39-bus and New England 10-machine 39-bus systems are used as test systems for simulation. The results show that this method can improve the accuracy of transient stability assessment considering the fault panoramic information under different faults. This work is supported by the Key Project of National Natural Science Foundation of China (No. 51637005), Key Project of Smart Grid Technology and Equipment of National Key Research and Development Plan of China (No. 2016YFB0900604), and Science and Technology Project of State Grid Corporation of China (No. SGBJDK00KJJS1900088).