High-nickel (Ni) ternary lithium-ion batteries (LIBs) are widely used in low-pressure environments such as in the aviation industry, but their attribute of high energy density poses significant fire hazards, especially under low pressure where thermal runaway behavior is complex, thus requiring relevant experiments. This study investigates the thermal runaway characteristics of LiNi0.8Mn0.1Co0.1O2 (NCM811) 18650 LIBs at different states of charge (SOCs) (75%, 100%) under various ambient pressures (101 kPa, 80 kPa, 60 kPa, 40 kPa). The results show that, as the pressure is decreased from 101 kPa to 40 kPa, the onset time of thermal runaway is extended by 28.2 s for 75% SOC and by 40.8 s for 100% SOC; accordingly, the onset temperature of thermal runaway increases by 19.3 °C for 75% SOC and by 33.5 °C for 100% SOC; the maximum surface temperature decreases by 70.8 °C for 75% SOC and by 68.2 °C for 100% SOC. The cell mass loss and loss rate slightly decrease with reduced pressure. However, ambient pressure has little impact on the time and temperature of venting as well as the voltage drop time. SEM/EDS analysis verifies that electrolyte evaporates faster under low pressure. Furthermore, the oxygen concentration is lower under low pressure, which consequently leads to a delay in thermal runaway. This study contributes to understanding thermal runaway characteristics of high-Ni ternary LIBs and provides guidance for their safe application in low-pressure aviation environments.