To investigate the propagation behavior of thermal cracks on the wheel tread under the conditions of long downhill ramps, a three-dimensional finite element model of a 1/16 wheel, including an initial thermal crack, was developed using the finite element software ANSYS 17.0. The loading scenarios considered include mechanical wheel–rail loads, both with and without the superposition of thermal wheel–brake shoe friction loads. The virtual crack closure method (VCCM) is employed to analyze the variations in stress intensity factors (SIFs) for Modes I, II, and III (KI, KII, and KIII) at the 0°, mid, and 90° positions along the crack tip. The simulation results show that temperature is a critical factor for the propagation of thermal cracks. Among the SIFs, KII (Mode II) is larger than KI (Mode I) and KIII (Mode III). Specifically, the thermal load on the wheel tread during braking contributes up to 23.83% to KII when the wheel tread reaches the martensitic phase transition temperature due to brake failure. These results are consistent with the observed radial propagation of thermal cracks in wheel treads under operational conditions.