The temperature distribution of ultrahigh voltage (UHV) converter transformer is the key to its service life, allowable load and safe operation. The influence of a high‐proportion and large‐value harmonic current on the magnetic field, loss and temperature distribution of a UHV converter transformer is studied. A new calculation method is proposed to determine the winding temperature under the combined actions of multiple key factors. First, the skin effect of UHV converter transformer winding under high proportion and high current harmonics is analysed extensively. It is found that the increase of harmonic current frequency leads to exponential increase of winding loss and temperature by changing skin depth. Second, based on the superposition principle, a calculation method for winding loss considering harmonic current and different load rates is developed. The temperature distribution under different harmonic current frequencies and contents is obtained. The winding losses and temperature under different harmonic currents are quantified. Finally, a new calculation method is proposed for the converter transformer winding temperature, considering the combined actions of factors such as load rate, cooling oil inlet rate and temperature, harmonic current frequency and content. Experimental verification showed an error of only 0.58 K in the actual transformer hotspot temperature, confirming the effectiveness of this method. This method is of great significance for temperature control and safe operation of UHV converter transformers.