High-voltage cables will continue to operate for a period of time in the event of a small current arc fault, which poses a risk of fire. Two simulated ignition methods, moving electrode and melting fuses, are proposed to analyze the ignition characteristics of low-current arcs. The ignition test was carried out, and the combustion effect was compared. The results indicate that the moving electrode ignition method can achieve long-distance arc ignition test when the current is small and is suitable for simulating the arc ignition situation of cable outer protective layer damage. By controlling the movement speed, it can be ensured that the arc will not be interrupted during the electrode movement process. However, the arc is difficult to sustain using the fuse melting method when the current is small and the distance is long. The fuse melting method is suitable for simulating insulation breakdown situations. The results show that the critical arc duration for cable ignition under five different current conditions of 2–10 A is 28 s, 21 s, 14 s, 9 s, and 4 s, respectively. The maximum height of the cable flame under 2–10 A arc current is 9–52 cm and 16–63 cm, respectively, when the arc duration is 50 s and 100 s. The self-ignition time of the cable after the arc extinguishing is 8–95 s and 14–261 s, respectively. The maximum temperature of the cable flame is positively correlated with arc current, and the maximum flame temperature of the cable under 2–10 A arc current is 540–980 °C. Based on the actual current monitoring data in cable tunnels, the research results can provide reference for the risk assessment and protection of cable tunnel fires.