With the vigorous development of the railway industry in China, the scale of rail vehicles continues to grow, and the requirements for vehicle reliability are increasing. As an important guarantee for a safe operation, a traditional manual inspection makes it difficult to fulfill vehicle health management requirements. This paper first proposes a health evaluation method for railway vehicles, separately from the standpoint of the subsystem, vehicle, and line. This article takes the traction system as an example to elaborate on the calculation method of health from five evaluation dimensions. It realizes an intelligent, real-time, and refined vehicle health evaluation system by using vehicle-to-ground network communication technology. The evaluation results and handling suggestions have an extremely positive guiding significance for the operation and maintenance of railway vehicles.