The present disclosure provides a parameter selection method, apparatus, and computer readable storage medium for an insulation detection circuit. The parameter selection method includes determining an allowable injection frequency range of an AC signal to be injected, according to a predetermined resistance range of an insulation resistance of the power battery under test and a predetermined resistance calculation cycle of the insulation resistance; and selecting an output frequency of the signal generation module according to a lowest frequency to be generated by the signal generation module and the allowable injection frequency range.