Direct current (DC) bias induced by the DC transmission and geomagnetically induced current is a critical factor in the abnormal operation of electrical equipment and is widely used in the field of power transmission and distribution system state evaluation. As the main affected component, the vector magnetization state of a transformer core under DC bias has rarely been studied, resulting in inaccurate transformer operation state estimations. In this paper, a dynamic vector hysteresis model that considers the impact of rotating and DC-biased fields is introduced into the numerical analysis to simulate the distribution of magnetic properties, iron loss and temperature of the transformer core model and a physical 110 kV single-phase autotransformer core. The maximum values of B, H and iron loss exist at the corners and T-joint of the core under rotating and DC-biased fields. The corresponding maximum value of the temperature increase is found in the main core limb area. The temperature rise of the 110 kV transformer core under various DC-biased conditions is measured and compared with the FEM (Finite Element Method) results of the proposed model and the model solely based on the magnetization curve B||H. The calculation error of the temperature rise obtained by the improved model is approximately 3.76–15.73% and is much less than the model solely based on magnetization curve B||H (approximately 50.71–66.92%).