Abstract: Large oil-immersed power equipment serves as a core component of power systems. Failures that escalate into explosive combustion incidents can result in substantial economic losses and serious social repercussions. This paper addresses the limitations of existing explosion prevention monitoring methods by systematically analyzing the mechanisms behind equipment faults and explosive events. It integrates three non-electrical parameter monitoring technologies and proposes two innovative early warning strategies based on three-dimensional vibration and oil chromatographic analysis. Furthermore, it develops a novel event characterization framework for explosive incidents by incorporating signals from primary and auxiliary equipment along with results from remote intelligent inspections. The proposed approach offers new insights into explosion prevention and early warning monitoring for large oil-immersed power equipment.