The valve is a key control component in the oil and gas transportation system, which, due to the environment, transmission medium, and other factors, is susceptible to internal leakage, resulting in valve failure. Conventional testing methods cannot judge the service life of valves. Therefore, it is important to carry out valve life prediction research for oil and gas transmission safety. In this work, a valve service life prediction method based on the PCA-PSO-LSSVM algorithm is proposed. The main factors affecting valve service life are obtained by principal component analysis (PCA), the least squares support vector machine (LSSVM) is used to predict the valve service life, the parameters are optimized by using particle swarm optimization (PSO), and the valve service life prediction model is established. The results show that the predicted valve service life based on the PCA-PSO-LSSVM algorithm is closer to the actual value, with an average relative error (MRE) of 16.57% and a root mean square error (RMSE) of 1.2636. Valve life prediction accuracy is improved, which provides scientific and technical support for the maintenance and replacement of valves.