This work presents a detailed, comprehensive study of a new structural design of protective devices with a circular cross-section (CS) (protective cables) for protecting equipment against ultra-wideband (UWB) pulses. Multiconductor structures with 2–5 conductors with and without a protective shield are considered. The disadvantages of using symmetric configurations of protective cables are shown. Their simulation, multivariate analysis, and optimization through heuristic search, as well as evolutionary strategies, were carried out. Optimization was carried out according to the amplitude (to minimize the maximum voltage level at the output of the structures) and time (to maximize the duration of the exciting signal) criteria. The optimization results allowed for increasing the duration and overall attenuation of the exciting UWB pulse. The article shows the possibility of improving the characteristics of such structures through their cascade connection, both among themselves and with strip protective structures. The results of parametric optimization of such structures are presented in the range of real (used in practice) geometric and electrophysical parameters in terms of amplitude and time criteria, as well as the matching criterion. The article also presents the developed prototypes of protective structures with a circular CS of three types: circular 3-conductor cable, flat 3-conductor cable, and circular 4-conductor cable. The experimental results describe how these prototypes were developed and created and confirm the feasibility of these protective structures to decompose the exciting pulse signal, which was previously shown only in simulation. Finally, it is shown that the use of asymmetry in the proposed cable structures can improve their protective characteristics.