To accurately simulate the electrical characteristics of high-power insulated gate bipolar transistor (IGBT) applied under transient overload extreme conditions, this article presents an electrothermal modeling method based on PSpice and Simulink. In this method, the structural parameters of the IGBT module are accurately extracted through a scanning electron microscope, and the corresponding seven-layer RC thermal network model is established in Simulink. Besides, a new lumped-charge physical model is constructed in PSpice, which can accurately describe the electrical behaviors of IGBT at different temperatures by circuit simulation. Then, cosimulation under a multirate simulation strategy is realized through a Matlab script file, which controls both the PSpice circuit simulation and the Simulink thermal simulation. Finally, the method is verified through a shortcircuit experiment on an ABB 3.3 kV/1500 A high-power IGBT module.