In this paper, a novel 3300 V/40 A 4H-SiC junction barrier Schottky diode (JBS) with a multi-step separated trench (MST) structure is proposed and thoroughly investigated using TCAD simulations. The results show that the introduction of MST expands the Schottky contact area, resulting in a decrease in the forward voltage drop. Furthermore, the combination of the deep P+ shielded region and the central P+ region effectively reduces the leakage current, leading to a 43.7% increase in the blocking voltage compared to conventional 4H-SiC JBS. The effects of the step depth (ds) and the width of the central P+ region (wm) on the device performance are analyzed in depth. In addition, a multi-step trenched linearly graded field-limiting rings (MTLG-FLR) termination ensures a more uniform electric field distribution, and the terminal protection efficiency reaches up to 90%, which further enhances the reliability of the terminal structure.