A switch rail is an important part of the high-speed railway system, but it is highly susceptible to defects during service, which threat traffic safety. A switch rail has an asymmetric variable cross-section structure, which makes it challenging to detect its defects with ultrasonic testing. In this study, the finite element model of switch rails and the ultrasonic SH guided wave detection of groove defects were explored. The three-dimensional finite element model of switch rails with the same sizes used under working conditions was established. Furthermore, the influences of grid division method, switch mechanism setting method, and root end variable cross-section grid type on guided wave propagation in the model were analyzed in detail. The switch rail model was experimentally validated. The ultrasonic SH guided wave detection of the defects at the rail head and rail bottom was successfully realized and the echo signals from other special structures of switch rail were also obtained. The finite element model calibrated with experimental results could be used to simulate guided wave detection at any location with any defect. The calibrated model could optimize the switch rail guided wave detection scheme and guide signal identification. The study provides an important basis for the inspection and monitoring of switch rails.