We propose a physics-based model of interelectrode parasitic elements of a Vgroove SiC power MOSFET with buried players. The proposed model considers the voltage dependence of parasitic resistances and capacitances on the basis of the observations through technology computer aided design (TCAD) simulations. The gate-voltage dependence of the body diode is also modeled in accordance with device physics. Through comparison with measurement results, it is demonstrated that the proposed model successfully reproduces both I-V and C-V characteristics. The transient behavior using a buck converter is also well reproduced.