With the rapid development of high-speed railway, their safety, comfort and reliability has become the preferred choice for more and more passengers. Ensuring the operation and safety of large-scale train fleet has become one of the most important directions for innovation and sustainable development in high-speed railway industry. Firstly, the technology and application of prognostics and health management has been reviewed. Then, the innovation on safety and security for high speed trains is introduced based on PHM and Big Data technology. Finally, the future development on PHM for high speed trains is discussed.