An electrical tree discharge model of multilayer insulation paper was prepared, and a voltage of 20 kV was used for electrical tree cultivation and initiation tests. Based on the microscopic image information and partial discharge (PD) information during the aging of the electrical tree, the development of electrical tree discharges between layers of paper comprising epoxy resin-impregnated paper insulation was studied. The results show that, by analysing PD information such as the discharge volume phase spectrum and the discharge repetition rate phase spectrum, the development of the electrical tree branch progresses in four stages: initial, growth, stagnation, and bursting. During the growth and stagnation stages, the main discharge paths of the electrical tree are mainly formed, and there are many filamentous fibres on the path edge. During the burst stage, more branches will be formed on the electrical tree, which will cause the greatest damage to the insulation. With the extension of the electrical tree path, the discharge magnitude and discharge times also increase. There are specific discharge patterns in different growth stages of the electrical tree, and the number of discharge events in each positive half-cycle is significantly greater than that in a negative half-cycle. Combining the microscopic image information and PD information during the aging of such an electrical tree, a theoretical basis for evaluating insulation state by PD monitoring is realised. The long-chain molecules of cellulose and epoxy resin break bonds and oxidise, which decompose into a large number of free radicals, monosaccharides, and other low-molecular-weight products.