The invention discloses a power battery model and a parameter identification method thereof. The power battery model comprises a battery electromotive force E, an energy storage capacitor Cb and an Ohm internal resistor R0 are serially connected between the positive electrode of the battery electromotive force E and the positive electrode of a battery model, in order; a first RC polarization loopand a second RC polarization loop is serially connected between a negative electrode of the battery electromotive force E and the negative electrode of the battery model in order; the first RC polarization loop comprises a polarization resistor RP1 and a polarization capacitor CP1 in parallel; and the second RC polarization loop comprises a polarization resistor RP2 and a polarization capacitor CP2 in parallel; the HPPC test is performed according to the model, the model parameters are identified by utilizing a curve fitting method according to the voltage and current data acquired through thetest, the identification method is simple and easy to do, and the complex arithmetical operation is avoided.