The digital signaling cable with inner screens is transmission channel in the high-speed railway track circuit. Its multi-loop simulation model and parameters have important significance for the research of high-speed railway track circuit. Firstly, in this paper, the multi-loop model of the digital signaling cable with inner screens is set up based on its structure characteristics and transmission path. Furthermore, the parameters of cable included capacitance, inductance, resistance are calculated based on the finite element method, including a detailed description of the boundary value problem of various parameters for calculating the finite element, the necessary calculation formula and step. Finally, taking 8-core shielded cables as an example, the simulation model is established, and the validity of the calculation method is verified by the compare between the calculated values of cable and measured values. And the established multi-loop model can be used to research signal transmission and fault diagnosis of high-speed railway track circuit.