Polymers are widely used as electrical insulating materials, with polyethylene being one of the most commonly used materials. However, the presence of water and acetophenone (AP), which are byproducts of the cross-linking agents used to produce cross-linked polyethylene, can cause space charge formation and electrical degradation. In the present study, the effects of an external electric field and temperature (250–400 K) on the dynamic and structural properties of water molecules (1 wt%) with AP molecules (1 wt%) in C120H242 chains were evaluated by molecular dynamics simulations with the SPC/E water model and the general AMBER force field. The results showed that water molecules diffused into the C120H242 chains under the condition of E = 5 GV/m in the temperature range of 250–400 K. Moreover, the AP molecules diffused into the C120H242 chains under the condition of E = 1 and 5 GV/m in the temperature range of 350–400 K. These results support a previously proposed model for space charge formation in polyethylene, which was based on pulsed electro-acoustic measurements. Thus, we verified a molecular model for the space charge and a suppression mechanism for electrical degradation from the viewpoint of the diffusion of water and AP molecules.