Ternary lithium batteries have been widely used in transportation and energy storage due to their high energy density and long cycle life. However, safety issues arising from thermal runaway (TR) need urgent resolution. Current research on thermal runaway in large-capacity ternary lithium batteries is limited, making the study of hazard indicators during the thermal runaway ejection process crucial. This study places a commercial 156 Ah prismatic battery (positive electrode material: Li(Ni0.8Mn0.1Co0.1)O2, negative electrode material: graphite) in a nitrogen-filled sealed container, triggering thermal runaway through lateral heating. The experimental results show that the battery’s maximum surface temperature can reach 851.8–943.7 °C, exceeding the melting point of aluminum. Temperature surge inflection points at the battery’s bottom and near the small side of the negative electrode coincide with the inflection point on the heated surface. The highest jet temperatures at three monitoring points 50 mm, 150 mm, and 250 mm above the safety valve are 356.9 °C, 302.7 °C, and 216.5 °C, respectively. Acoustic signals reveal two ejection events. The average gas production of the battery is 0.089 mol/Ah, and the jet undergoes three stages: ultra-fast ejection (2 s), rapid ejection (32 s), and slow ejection (47 s). Post-thermal runaway remnants indicate that grooves from internal jet impacts are mainly located at ±45° positions. This study provides valuable insights for the safety design of batteries and the suppression of thermal runaway propagation.