This paper systematically reviews an on-orbit life re-evaluation technology specifically designed for electromechanical products in response to the urgent need for quantitatively re-evaluating the on-orbit life of electromechanical products amid the lifespan extension of China Space Station. It does this by drawing on successful experiences from International Space Station lifetime evaluations and extensions as well as methods used during the development phase of China Space Station. Furthermore, we present technical development trends and offer pertinent recommendations. The suggested technology falls into two main categories: those that combine on-orbit and ground telemetry data and those that are mostly based on ground test data. It encompasses 9 specific techniques, among which are the traditional correction of lifetime evaluation outcomes, the re-evaluation of lifetime tests factoring in both integrated operations and degradation effects, complex dynamic profile re-design for lifetime tests, multi-level accelerated lifetime testing and evaluation, the re-evaluation of lifetime in integrated irradiation environments, the re-screening and re-evaluation of multi-source data stemming from both ground and space, intelligent fault diagnosis and degradation prediction, lifetime evaluation leveraging transfer learning between ground and on-orbit telemetry data, and the re-evaluation of lifetime based on on-orbit testing. This technology embodies innovative considerations and concepts for the re-evaluation of electromechanical product lifetimes as the China Space Station embarks on its protracted on-orbit operational phase. It stands poised to bolster the long-term and systematic endeavor aimed at extending the operational lifespan of the China Space Station.