System health management, which aims to ensure the safe and efficient operation of systems by reducing uncertain risks and cascading failures during their lifetime, is proposed for complex transportation systems and other critical infrastructures, especially under the background of the New Infrastructure Projects launched in China. Previous studies proposed numerous approaches to evaluate or improve traffic reliability or efficiency. Nevertheless, most existing studies neglected the core failure mechanism (i.e., spatio–temporal propagation of traffic congestion). In this article, we review existing studies on traffic reliability management and propose a health management framework covering the entire traffic congestion lifetime, from emergence, evolution to dissipation, based on the study of core failure modes with percolation theory. Aiming to be “reliable, invulnerable, resilient, potential, and active”, our proposed traffic health management framework includes modeling, evaluation, diagnosis, and improvement. Our proposed framework may shed light on traffic management for megacities and urban agglomerations around the world. This new approach may offer innovative insights for systems science and engineering in future intelligent infrastructure management.