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Support Vector Machines (SVMs) have achieved significant success in the field of power transformer fault diagnosis. However, challenges such as determining SVM hyperparameters and their suitability for binary classification still exist. This paper proposes a novel method for power transformer fault diagnosis, called ECOC-WSO-SVM, which utilizes a White Shark Optimizer (WSO) and error correcting output codes to optimize SVMs. First, t-distributed Stochastic Neighbor Embedding (t-SNE) is employed to reduce the dimensionality of Dissolved Gas Analysis (DGA) features constructed using the correlation ratio method, from 26 dimensions. In addition, to effectively solve the hyperparameters of SVMs, a multi-strategy fusion method is proposed to improve the WSO, incorporating tent chaos initialization, elite opposite learning, and selection strategies, forming TEWSO, and its superior optimization performance is validated using IEEE CEC2021 test functions. Furthermore, to address the limitations of SVMs as a binary classifier, an error correcting output code fusion SVM is introduced, thus constructing a multi-class SVM model. Finally, the diagnostic performance of the ECOC-TEWSO-SVM model is validated using real-world data. Results demonstrate that the proposed model exhibits the best diagnostic performance compared to traditional models and those in the literature, thereby proving the significance and effectiveness of the proposed model. [ABSTRACT FROM AUTHOR]