Subsea umbilical cable is an important link to transmit power and signals in subsea production system, often lasts for tens of kilometers in deep-sea projects. It is expensive, bulky, and inconvenient to transport. In this article, a compact, low-cost umbilical cable electrical simulator is proposed, which can be equivalent to the real umbilical cable in power transmission characteristics and can adjust parameters in a certain range. By studying the electrical transmission characteristics of long umbilical cable, the calculation method of electrical transmission characteristics is determined. A simulation device for simulating the transmission characteristics of umbilical cable is designed, which can be used to simulate the umbilical cable diameter of 10 and 16 mm2. The voltage drop characteristics, signal transmission attenuation characteristics, and power carrier characteristics of the umbilical cable electrical simulation device are simulated and experimentally analyzed. The experimental results show that the voltage drop characteristics, signal transmission attenuation characteristics, and power carrier characteristics of the umbilical cable electrical simulator are in good agreement with the real umbilical cable. The simulation device of umbilical cable can well simulate the power and signal transmission characteristics of real umbilical cable.