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For accurately studying the performance of LiFePO4 battery group, this paper conducted CC and HPPC cycle charge/discharge performance tests of LiFePO4 battery, and designed an improved equivalent circuit model based on the data analysis. Compared to the traditional model, the model considered the impact of the hysteresis voltage, had more accurate corresponding relationship between SOC and balance voltage, obtained a more realistic overpotential property by contrasting different order models. Estimated model parameters, modeling in Matlab / Simulink environment and simulation in the UDDS condition, verified the accuracy and feasibility of the designed model by comparing with experimental data.