The deterioration of a composite insulator’s mandrel will cause a serious power-grid accident, so it is necessary to find the defect as soon as possible. Infrared imaging is an effective means to detect mandrel-deterioration defects, but sheath-aging defects will cause trouble to screen mandrel deterioration. Therefore, it is urgent to distinguish the two defects. In this paper, two composite insulators that are out of service with different heating characteristics are tested and analyzed, and the temperature-rise characteristics are analyzed by building a simulation model. The results show that the temperature rise of composite insulators with oxidative decomposition of epoxy resin is large, and the range usually extends from the hardware of the high-voltage side to several umbrella skirts. The temperature rise caused by the composite insulator with the fiber completely wrapped by epoxy resin is small, which mainly occurs from the hardware to the first umbrella skirt. The simulation model constructed in this paper is consistent with the experimental results, which verifies the accuracy of the model. The model can distinguish the mandrel-deterioration defect and sheath-aging defect, and has guiding significance and important reference value for the detection rate of the mandrel-deterioration composite insulator and ensuring the safe and stable operation of the power grid.