Thermal insulation plays a major role in the use of cryogenic systems. Due to its superior thermal insulation property, Multi-layer insulation materials (MLI) are widely used in various cryogenic systems, such as superconducting magnets, space propellant storage, satellites and so on. Thus, it is crucial to estimate and measure the insulation performance of it. This paper has carried out a numerical simulation of the performance of one kind of MLI through a modified Layer-by-Layer model. The thermal insulation propriety of the test specimen is also measured by a newly designed measurement system, which is based on the steady-state axial heat flux method. Finally, the simulation and test results are compared and discussed.