An attractive candidate for space and aeronautic applications is the high-power and miniaturizing electric propulsion technology device, the gallium nitride high electron mobility transistor (GaN HEMT), which is representative of wide bandgap power electronic devices. The cascode AlGaN/GaN HEMT is a common structure typically composed of a high-voltage depletion-mode AlGaN/GaN HEMT and low-voltage enhancement-mode silicon (Si) MOSFET connected by a cascode structure to realize its enhancement mode. It is well known that low-voltage Si MOSFET is insensitive to single event burnout (SEB). Therefore, this paper mainly focuses on the single event effects of the cascode AlGaN/GaN HEMT using technical computer-aided design (TCAD) simulation and heavy-ion experiments. The influences of heavy-ion energy, track length, and track position on the single event effects for the depletion-mode AlGaN/GaN HEMT were studied using TCAD simulation. The results showed that a leakage channel between the gate electrode and drain electrode in depletion-mode AlGaN/GaN HEMT was formed after heavy-ion striking. The enhancement of the ionization mechanism at the edge of the gate might be an important factor for the leakage channel. To further study the SEB effect in AlGaN/GaN HEMT, the heavy-ion test of a cascode AlGaN/GaN HEMT was carried out. SEB was observed in the heavy-ion irradiation experiment and the leakage channel was found between the gate and drain region in the depletion-mode AlGaN/GaN HEMT. The heavy-ion irradiation experimental results proved reasonable for the SEB simulation for AlGaN/GaN HEMT with a cascode structure.