In order to improve the accuracy of load modeling to meet the requirements of power system simulation calculation accuracy, this paper proposes a load model parameter identification strategy based on GWO from the perspective of overall measurement and identification method. The load model parameter identification strategy when disturbance occurs in power grid substation busbar voltage, voltage phase Angle as the input, the selection of induction motor in parallel ZIP load classic load model, through the grey Wolf algorithm of iterative optimization objective function to obtain a set of optimal load model parameters, makes the model response can power curve fitting sample. GWO algorithm has strong fast convergence ability and global search ability, and its application in load modeling parameter identification practice can effectively improve the identification accuracy. By establishing the power system simulation model in THE PSD-BPA software and taking the disturbance data at the substation bus as the input data sample of load modeling, the simulation results of the two examples show that GWO has obvious advantages in calculation accuracy and convergence speed compared with the commonly used particle swarm optimization algorithm.