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This paper proposes the scheme of ultra-high-speed transient-based protection(TbP)for EHV/UHV transmission lines，which includes the main protection and the auxiliary protection. The paper firstly introduces basic principles of main components and each other’s logic in this scheme. Then their applicable algorithms and flow charts are depicted in detail with the wavelet technology that fits for transient signal analysis. Theory analysis shows that the main protection—a fast directional blocking pilot protection，discriminates the internal and external faults at every point of the protected line based on two-end transient information and is able to reliably protect the whole line；The auxiliary protection—an ultra-high-speed boundary protection，can distinguishes a certain range fault of the protected line only relying on single-end transient information. Analysis shows that the whole set of TbP meets the demand of ultra-high-speed protective relay.