Semiconductor light sources are currently the fastest growing and most energy efficient group of light sources used in lighting technology. Their lighting parameters, such as luminous flux, correlated color temperature and color rendering index depend on the value of the forward current, as well as the temperature of the junction. LED source manufacturers usually specify, in data sheets, the effect of junction temperature and forward current on the luminous flux for individual light sources. The difficulty, however, is the correct determination of temperature and then lighting parameters, by simulation methods for multi-source lighting systems. Determining the junction temperature which affects lighting parameters is particulary important in the case of LED panels and luminaires, where thermally coupled LED sources shaping the output lighting parameters are in close proximity to each other. Additionally, other factors influencing the temperature distribution of sources, such as the design and geometry of the cooling system, the design of the printed circuit and thermal interface material used, should be considered. The article is a continuation of the publication in this journal where the influence of factors influencing the temperature distribution of the LED panel is presented. The purpose of the research in this article was to confirm the possibility of using CFD (Computational Fluid Dynamics) software, as well as to determine the accuracy of the results obtained in the temperature analysis of the multi-source LED panel, and in determining the output lighting parameters of the LED panel based on it. In this article, based on previously published research, a LED panel model with a cooling system was made, and then the CFD software determined the junction temperature of all light sources. The determined temperature of the LED sources constituted the basis for determining the output lighting parameters of the panel: luminous flux, color temperature and color rendering index. The simulation results were verified by real measurements on the constructed LED panel prototype. The LED panel temperature difference between the simulation results and the real results on the prototype did not exceed 5%. Moreover, the error of lighting parameters between the simulation results obtained and the results on the LED panel prototype in the worst case was 4.36%, which proves the validity and accuracy of simulation studies.