The lead-cooled fast reactor (LFR), a Generation IV nuclear system candidate, presents unique neutronic characteristics distinct from pressurized water reactors. Its neutron spectrum spans wider energy ranges with fast neutron dominance, exhibiting resonance phenomena across energy regions. These features require a fine energy group structure for fuel lattice calculations, significantly increasing computational demands. To balance local heterogeneity modeling with computational efficiency, researchers across the world adopt fuel assembly equivalence methods using 1D cylindrical models through volume equivalence principles. This approach enables detailed energy group calculations in simplified geometries, followed by lattice homogenization for few-group parameter generation, effectively reducing whole-core computational loads. However, limitations emerge when handling strongly heterogeneous components like structural/control rods. This study investigates the 1D equivalence method’s accuracy in lead–bismuth fast reactors under various fuel assembly configurations. Through comprehensive analysis of material distributions and their equivalence impacts, the applicability of the one-dimensional equivalence approach to fuel assemblies of different geometries and material types is analyzed in this paper. The research further proposes corrective solutions for low-accuracy scenarios, enhancing computational method reliability. This paper is significant in its optimization of the physical calculation and analysis process of a new type of fast reactor component and has important engineering application value.