Time-efficient fault analysis and diagnosis of analog circuits are the most important prerequisites to achieve online health monitoring of electronic equipments, which are involving continuing challenges of ultra-large-scale integration, component tolerance, limited test points but multiple faults. This work reports an FPGA (field programmable gate array)-based analog fault diagnostic system by applying two-dimensional information fusion, two-port network analysis and interval math theory. The proposed system has three advantages over traditional ones. First, it possesses high processing speed and smart circuit size as the embedded algorithms execute parallel on FPGA. Second, the hardware structure has a good compatibility with other diagnostic algorithms. Third, the equipped Ethernet interface enhances its flexibility for remote monitoring and controlling. The experimental results obtained from two realistic example circuits indicate that the proposed methodology had yielded competitive performance in both diagnosis accuracy and time-effectiveness, with about 96% accuracy while within 60 ms computational time.