With the continuous expansion of urban scale with dense population and traffic and the gradual improvement of residents’ requirements for environmental quality, the traditional evaluation method relying on acoustic energy is not enough to reflect the feelings of urban crowds about acoustic environment quality. The acoustic environment quality evaluation method based on human subjective perception has gradually become one of the research focuses in the field of environmental noise control. In recent years, various subjective and objective acoustic characteristic parameters have been introduced into the study of acoustic environment assessment in the global literature. However, the extraction of “effective characteristics” from a large number of physical and psychoacoustic characteristics contained in acoustic signals and the creation of a scientific and efficient subjective evaluation model have always been key technical problems in the field of acoustic environment evaluation. Based on subjective human perceptions, the overall acoustic environment quality evaluation of urban open spaces is studied in this paper. Based on the “effective characteristic” parameters and the subjective characteristic proposed in the previous research, including equivalent continuous A-weighted sound pressure level (LA), the difference between median noise and ambient background noise (L50 − L90), Sharpness (Sh), as well as satisfaction (Sat), the multivariable linear regression algorithm is used to further study the intrinsic correlation between the proposed “effective characteristics” and subjective perception. Then, a satisfaction evaluation model of the acoustic environment based on “effective characteristics” is built in this paper. Furthermore, the soundwalk evaluation experiment and the MATLAB numerical simulation experiment are carried out, which verify that the prediction accuracy of the proposed model is more than 92%, the consistency of satisfaction level is more than 88%, as well as the changes in the values of Sh and L50 − L90 have a significant impact on the satisfaction prediction of the proposed model. It shows that the proposed “effective characteristics” more comprehensively describe the quality level of the regional acoustic environment in urban open space compared with a single LA index, and the proposed acoustic environment satisfaction evaluation model based on “effective characteristics” has significant accuracy superiority and regional applicability.