To clarify the thermal runaway characteristics of lithium-ion battery pack, this study has established a thermal runaway experimental platform based on actual power battery pack. A 4 in series and 4 in parallel battery pack was assembled using 86 Ah lithium iron phosphate batteries, and the experiment of thermal runaway induced by overcharging and unilateral preheating was carried out. The behavior and characteristics including the temperature change characteristics of each cell, the heat generated and transfer paths during thermal runaway propagation, the voltage changes of each serial module and the total voltage, flame evolution behavior, gas generation characteristics, debris, and mass loss were investigated. The research results show that module 1 was the first to experience thermal runaway due to preheating. The redistributed current caused the batteries in the remaining modules to rapidly generate heat. Subsequently, the heat transfer from module 1 triggered thermal runaway in modules 2, 3, and 4 in sequence. The entire flame combustion process lasted for 38 min, with the maximum temperature reaching 937.1 °C, resulting in thermal runaway in all batteries. The sequence of thermal runaway has been clarified, with the flame generated by the ignition of the battery casing, connecting tabs, and combustible gases emitted from the batteries serving as the primary paths for heat transfer and thermal radiation. The experimental results provide valuable insights into the thermal engineering issues of large-scale lithium-ion battery pack.