We report GaN vertical trench MOS barrier Schottky (TMBS) diodes with embedded p-GaN shielding rings (SRs) and systematically investigate the impact of different structural parameters of the p-GaN SRs on the breakdown performance of the GaN-based vertical TMBS diodes by numerical simulation. The charge coupling effect by the embedded p-n junction at the bottom of the trench homogenize the electric field at the trench corner and alleviate the electric field crowding effect at the Schottky contact region, which can effectively avoid the premature breakdown and improve the reverse blocking capability of the TMBS diodes. The p-GaN SRs can also broaden the overlapped depletion region and shift the pinch-off point into the n <sup xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink">−</sup> -GaN drift region, thus facilitating the 2-D depletion in the n <sup xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink">−</sup> -GaN drift layer and boosting the breakdown performance of the conventional TMBS diodes. We found that the doping concentration, thickness, and the width of the p-GaN SRs are closely associated with the electric field distribution and the reverse breakdown characteristics of the GaN-based vertical TMBS diodes. The vertical TMBS diodes with optimal p-GaN SR parameters featured a dramatic improvement in the breakdown voltage from 907 to 1281 V, without an obvious degradation in the ON performance. The proposed TMBS diodes with a p-GaN SR structure can pave the way toward a high-performance GaN vertical power device for high-power and high-efficiency power switch applications.