We take the established inductively coupled plasma (ICP) wind tunnel as a research object to investigate the thermal protection system of re-entry vehicles. A 1.2-MW high power ICP wind tunnel is studied through numerical simulation and experimental validation. The distribution characteristics and interaction mechanism of the flow field and electromagnetic field of the ICP wind tunnel are investigated using the multi-field coupling method of flow, electromagnetic, chemical, and thermodynamic field. The accuracy of the numerical simulation is validated by comparing the experimental results with the simulation results. Thereafter, the wind tunnel pressure, air velocity, electron density, Joule heating rate, Lorentz force, and electric field intensity obtained using the simulation are analyzed and discussed. The results indicate that for the 1.2-MW ICP wind tunnel, the maximum values of temperature, pressure, electron number density, and other parameters are observed during coil heating. The influence of the radial Lorentz force on the momentum transfer is stronger than that of the axial Lorentz force. The electron number density at the central axis and the amplitude and position of the Joule heating rate are affected by the radial Lorentz force. Moreover, the plasma in the wind tunnel is constantly in the subsonic flow state, and a strong eddy flow is easily generated at the inlet of the wind tunnel.