Low voltage distribution networks have not been traditionally designed to accommodate the large-scale integration of decentralized photovoltaic (PV) generations. The bidirectional power flows in existing networks resulting from the load demand and PV generation changes as well as the influence of ambient temperature led to voltage variations and increased the leakage current through the cable insulation. In this paper, a machine learning-based framework is implemented for the identification of cable degradation by using data from deployed smart meter (SM) measurements. Nodal voltage variations are supposed to be related to cable conditions (reduction of cable insulation thickness due to insulation wear) and to client net demand changes. Various machine learning techniques are applied for classification of nodal voltages according to the cable insulation conditions. Once trained according to the comprehensive generated datasets, the implemented techniques can classify new network operating points into a healthy or degraded cable condition with high accuracy in their predictions. The simulation results reveal that logistic regression and decision tree algorithms lead to a better prediction (with a 97.9% and 99.9% accuracy, respectively) result than the k-nearest neighbors (which reach only 76.7%). The proposed framework offers promising perspectives for the early identification of LV cable conditions by using SM measurements.