In view of the complex influence factors of military equipment management performance, the fuzziness and uncertainty of the evaluation process, a method of equipment management performance evaluation based on cloud model and improved evidence theory is proposed. Firstly, the performance evaluation index system of equipment management is established, and the weights of indicators are determined by combination weighting method. Then, a cloud model is used to model the expert comment information, and construct the basic probability assignment function. Then, the Jousselme distance is introduced, and the weight of evidence is obtained by calculating the credibility and reliability of evidence, which is used as a weighting coefficient to adjust original evidence. Finally, the different indexes of basic probability assignment (BPA) are fused to get the evaluation results with the improved evidence fusion rules. The instance analyzing proves the scientificity of the index system and the effectiveness of the algorithm, which can provide a reference for the assessment of military equipment management performance.