In this paper, cavitation damage of turbines is firstly analyzed and predicated from the view point of system engineering by use of the grey system theory. A detailed description of modeling, dynamic prediction and accuracy test for the grey system of turbines was given. Two special cases for grey dynamic prediction as well as its accuracy test were illustrated. The results fall into the grade I, the accuracy is satisfactory and its prediction requirements can be met well. It shows that the grey system theory can be employed to predict the cavitation damage of turbines, and it can provide a scientific basis for timely investigation and maintenance of turbines.