Abstract: The embodiments herein provide a method and system for performing predictive maintenance of a control valve in an industrial plant. The method comprises monitoring a plurality of parameters using a plurality of sensors, and detecting one or more faults in the control valve using a decision making center. The plurality of the parameters are defined by DAMADICS system. The decision making module utilizes one or more neuro-fuzzy networks for detecting one or more faults in the control valves. The one or more neuro-fuzzy networks simulates each fault with a plurality of strengths. The decision making center detects the one or more faults by comparing outputs of simulated faults, and the actual output values provided by the plurality of sensors.