The traditional circuit breaker fault diagnosis method suffers from insufficient feature information extraction and is easily affected by abnormal signal acquisition. To address this, this paper introduces the phase space reconstruction algorithm to reconstruct the current signal for fault diagnosis based on phase trajectory features. The proposed method uses a first-order forward differencing method and mutual information method to process abnormal data and select the parameters of the reconstruction, then extract overall and local inflection point features to construct a fault feature set. The support vector machine algorithm-based model is trained and tested using actual samples, and the results show that the proposed method can adaptively sample anomalous signals, exhibit strong robustness, and significantly improve the accuracy of fault classification.