Based on the analysis of the remanufacturing process of oil drilling and production equipment, a remanufacturing cost evaluation method is proposed by quantitatively evaluating the cost expenditure of each remanufacturing step. This method focuses on the influence of process cost, energy consumption cost and environmental cost on remanufacturing of equipment parts. And a strategy to evaluate remanufactureability directly from the cost consumption is obtained. As the application of this method, we take the reproductivity of waste oil drill pipe and the reproductivity evaluation of drilling pump crankshaft as an example. The test results indicate that our method can well evaluate the remanufactureability of the petroleum drilling and production equipment parts. As a whole，the proposed method is helpful to supplement the existing evaluation system. It is effective to guide the remanufacturability judgment of key parts of oil drilling and production equipment.