Currently, various types of superconducting power cables are being developed worldwide, and research and development of a tri-axial high-temperature superconducting (HTS) power cable are underway. The tri-axial HTS power cable reduces the amount of HTS wire due to its multilayer structure, has high current characteristics, and has less loss than other superconducting cables. However, since the radii of each phase are different, magnetic coupling makes it difficult to measure power loss and analyze performance. This paper presents the results of the design and performance analysis of a tri-axial HTS power cable. A prototype tri-axial HTS power cable was designed with a rated power of 60 MVA, a rated voltage of 23 kV and a length of 6 m, and was tested by cooling to 77 K with liquid nitrogen. We analyzed the performance of the tri-axial HTS power cable in normal conditions through a finite element method (FEM) simulation and experiment. The alternating current (AC) loss of the tri-axial HTS power cable was calculated using a FEM program based on the Maxwell equation, and the result was used to confirm the AC loss of the tri-axial HTS power cable prototype measured by the electrical measurement method. In conclusion, in the current test of a tri-axial HTS cable designed as 23 kV/60 MVA, the DC critical current was over 6000 A, the AC loss was approximately 0.24 W/m, and the simulation and analysis design values were satisfied. The results of this study will be effectively applied to commercial tri-axial HTS power cable development to be installed in a real power system. This means that the actual tri-axial HTS cable has sufficient capacity for rated current operation in the system where it will be applied, and the actual measurement of the cable loss can be applied as an important factor in the design of the cooling capacity of the entire superconducting cable, which consists of several kilometers.