The discharge characteristics of column-plate electrode structure under high frequency excitation were studied by combining experiment and simulation under different solution concentrations. The discharge characteristics of gas-liquid two-phase dielectric barrier discharge (DBD) were measured through experiment, and the electrical and luminescent characteristics under different solution concentrations and applied voltage amplitudes were obtained. On this basis, the equivalent circuit model corresponding to this experiment was established by combining with the physical process of gas-liquid two-phase discharge. The model parameters were determined by combining the experiment with the electric field simulation, and the circuit simulation model was established in Simulink. The voltage and current waveform, and Lissajous graph under different concentration and voltage amplitude were obtained through simulation. The correctness of the simulation model was verified by comparing simulation and experimental results. The discharge parameters, such as air gap voltage, liquid phase voltage, discharge channel current, and energy ratio, which could not be obtained in the experiment directly, were further extracted by the above model. The results show that the solution concentration has no significant influence on the voltage and current waveform and luminescence characteristics of the loop obtained by experiment. However, it is found through simulation that the proportion of energy consumed by gas phase and liquid phase are affected by it greatly. With the increase of solution concentration, although both liquid power and gas power increase, the liquid power increases faster, resulting in that the energy ratio of liquid phase increases obviously. The energy ratio of gas phase can be improved by increasing the excitation source voltage, which can inhibit the energy obtained by liquid phase to a certain extent.