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As an advanced information technology, blockchain technology applied in power material supply chain (PMSC) has attracted the broad attention over recent years in order to solve the existing problems and improve the management level. However, the unified evaluation standards and methods, which evaluate the blockchain technology feasibility in PMSC, are still lacking so far. In this paper, the existing problems of PMSC and the characteristics of blockchain technology are analyzed firstly. Moreover, an evaluation index system of blockchain technology feasibility towards PMSC is designed, and the questionnaire method is utilized to obtain the required data from the target group. Furthermore, the fuzzy analytic hierarchy process is used for index weighing and the technique for order preference by similarity to an ideal solution is improved by introducing the strategy of designing target case, which can realize the horizontal comparative evaluation between different evaluation cases and the vertical comparative evaluation between evaluation case and target case. Finally, the case study based on the questionnaire results from State Grid Jiangsu Electric Power Co., Ltd. Material Branch verifies that the index system can provide the decision-making information for the construction and development sequence of PMSC blockchain system. The pilot project of blockchain technology should first be carried out in the business scenario of storage, inspection and distribution of materials because it relative closeness that is 0.8684 is larger than the relative closeness of other selected business scenarios in this case.