Transformers, as key equipment in the power system, play a crucial role in efficient transmission of electricity in the grid. Winding disk space variation (DSV) fault can cause severe damage to power transformers, yet no comparative analysis of its impact on power and high frequency characteristic parameters has been conducted. Therefore, this study proposes analysis of power frequency and high frequency characteristic parameters of winding DSV fault of power transformer. Firstly, this study establishes a finite element simulation model of the transformer winding to simulate and apply power and high frequency excitation. Secondly, the proposed method analyzes the influence of the DSV fault on high frequency parameter and compares it with power frequency parameter methods to demonstrate the advantages of high frequency parameter in winding deformation detection. Finally, based on the simulation results, the variation pattern of high frequency equivalent electrical parameters was summarized, providing an effective numerical analysis method for transformer winding deformation detection.