In this paper, an artificial pollution test is carried out to study the leakage current of porcelain insulators. Fractal theory is adopted to extract the characteristics hidden in leakage current waveforms. Fractal dimensions of the leakage current for the security, forecast and danger zones are analyzed under four types of degrees of contamination. The mean value and the standard deviation of the fractal dimension in the forecast zone are calculated to characterize the differences. The analysis reveals large differences in the fractal dimension of leakage current under different contamination discharge stages and degrees. The experimental and calculation results suggest that the fractal dimension of a leakage current waveform can be used as a new indicator of the discharge process and contamination degree of insulators. The results provide new methods and valid indicators for forecasting contamination flashovers.