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The capillary-based pulsed plasma thruster (PPT) has high-energy transfer efficiency, which provides potential to improve traditional PPT performance. In this paper, the discharge characteristics of a capillary-based PPT have been investigated. First, the typical process of voltage and current waveform is recognized. It is featured with a fast voltage drop (~25 ns) and a consequent damped sine wave oscillation discharge. Then based on the circuit analysis, the equivalent plasma resistance has been calculated. The current waveform is well fit with a linearly increasing resistance model. The influence of charging voltage has also been studied. The deposited energy increases while the transfer efficiency decreases with the increasing applied voltage. The cavity dimension has effects on the equivalent circuit parameters. The results show that longer cavity and smaller diameter lead to more deposited energy and higher transfer efficiency. The influence of voltage and capillary dimension on the mass shot characteristic has been discussed. Finally, the estimated impulse bit has been calculated and the impulse bit characteristics have been discussed. These results can contribute to the further optimization of PPT. [ABSTRACT FROM PUBLISHER]