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This paper presents a wavelet-alienation based protection scheme for multi-terminal transmission system. The proposed algorithm makes use of wavelet transform based approximate coefficients of three-phase voltage and current signals, obtained over a quarter cycle to detect, classify and locate various faults. Detection and classification of faults are achieved with the help of approximate coefficients based alienation coefficients of current signals, measured from all the buses of system. The approximate coefficients of voltage and current signals, obtained over a quarter cycle, are fed to artificial neural network to locate the faults precisely, from respective buses. This algorithm has been tested successfully for all the types of faults with variations in location, inception angle and fault impedance. The proposed protection scheme is generalized for N-terminal system followed by successful testing on three-terminal and five-terminal systems.