As a bridge between circuit modules, microwave circuit interconnection not only needs to meet the reliability of mechanical connection, but also needs to ensure the complete transmission of electromagnetic signals between circuits. With the increase of the operating frequency of microwave circuits, circuit interconnection has significantly restricted the improvement of microwave circuit signal transmission performance. Aiming at the active phased array antenna T/R component circuit movable lead interconnection structure, this paper establishes the movable lead interconnection parametric characterization model and equivalent circuit model. The space mapping method is used to extract the parameters of the interconnected equivalent circuit, so that the response of the equivalent circuit model is close to the response of the fine structure electromagnetic model, and the correctness of the equivalent circuit model is verified. This paper can quickly and accurately obtain the equivalent circuit parameters of the movable lead interconnection, so as to provide theoretical guidance for the accurate and rapid realization of electromagnetic transmission performance prediction and interconnection optimization design control.