Lithium-ion batteries (LIBs) are widely used in electric vehicles and energy storage systems, making accurate state transition monitoring a key research topic. This paper presents a characterization method for large-format LIBs based on phased-array ultrasonic technology (PAUT). A finite element model of a large-format aluminum shell lithium-ion battery is developed on the basis of ultrasonic wave propagation in multilayer porous media. Simulations and comparative analyses of phased array ultrasonic imaging are conducted for various operating conditions and abnormal gas generation. A 40 Ah ternary lithium battery (NCMB) is tested at a 0.5C charge-discharge rate, with the state of charge (SOC) and ultrasonic data extracted. The relationship between ultrasonic signals and phased array images is established through simulation and experimental comparisons. To estimate the SOC, a fully connected neural network (FCNN) model is designed and trained, achieving an error of less than 4%. Additionally, phased array imaging, which is conducted every 5 s during overcharging and overdischarging, reveals that gas bubbles form at 0.9 V and increase significantly at 0.2 V. This research provides a new method for battery state characterization.