In this paper, the two-dimensional high-current vacuum arc (HCVA) model under the combined action of axial magnetic field (AMF) and external magnetic field from bus bar (EMFBB) is established. Based on this model, the influence of AMF and EMFBB on HCVA characteristics can be simulated and analyzed. Simulation results show that the HCVA column will be deflected by the Lorentz force generated by EMFBB and higher arc current. Moreover, the deflection level will be increased with the increase in external EMFBB strength. For HCVA, due to the smaller axial velocity near cathode side, the deflection of plasma parameters (such as ion number density, ion temperature, electron temperature, plasma pressure, and so on) near cathode side is more significant than that near anode side. The current deflection near cathode side toward direction of Lorentz force is more significant than that near anode side.