This digest proposes an analytical model to fit degradation data of insulated gate bipolar transistor (IGBT), based on physics understandings. Firstly, the relationship between on-state voltage variation and contact radius of bond-wire is established via the combination of failure mechanism and elaborate equivalent, and the influence of metallization reconstruction is incorporated. Moreover, two equations are tailored to quantify the evolution of two directly degradation-related variables respectively. Finally, power cycling testing data verify the improved accuracy of the proposed model compared to the existing ones.