Through Panoramic borehole inspection camera, various complex phenomena underground can be directly observed, obtaining data that cannot be obtained by conventional tests, providing visual information for the analysis and research of complex problems, and being very effective for judging the fault in the well. The working principle of Panoramic borehole inspection camera and the application of Panoramic borehole inspection camera in the restoration of old Wells are analyzed, and the conclusion shows that Panoramic borehole inspection camera system provides advanced means for the restoration of old Wells, improves the success rate and efficiency of workover, and creates high economic benefits for the unit.