Polarization-depolarization current (PDC) measurements are now being used as a diagnosis tool to predict the ageing condition of transformer oil-paper insulation. Unfortunately, it is somewhat difficult to obtain the ageing condition of transformer cellulose insulation using the PDC technique due to the variation in transformer insulation geometry. In this literature, to quantify the ageing condition of transformer cellulose insulation using the PDC technique, we firstly designed a series of experiments under controlled laboratory conditions, and then obtained the branch parameters of an extended Debye model using the technique of curve fitting the PDC data. Finally, the ageing effect and water effect on the parameters of large time constant branches were systematically investigated. In the present paper, it is observed that there is a good exponential correlation between large time constants and degree of polymerization (DP). Therefore, the authors believe that the large time constants may be regard as a sensitive ageing indicator and the nice correlations might be utilized for the quantitative assessment of ageing condition in transformer cellulose insulation in the future due to the geometry independence of large time constants. In addition, it is found that the water in cellulose pressboards has a predominant effect on large time constants.