High-energy internal failures of transformers are catastrophic events which are hardly predictable. For this reason, a full-scale controlled experiment represents a valuable learning opportunity to gather accurate information about sequence of events during the very short time in which the failure occurs. Controlled parameters include tank design, material properties, experimental load and measurements. In this paper, we present a detailed investigation using nonlinear finite-element analysis of a 210-MVA transformer high-pressure experiment. We begin by evaluating the relationship between internal arcing pressure rise and tank expansion characteristics. Since this relationship is not linear due to geometric and material nonlinearities, an iterative process is proposed to ensure result accuracy. Stress–strain material properties are retrieved by tension experiments of specimens extracted from the tested tank to enable accurate comparison of numerical and experimental results. It is shown in this paper that nonlinear material parameters have a small influence on the tank pressure rise, but a significant one on large strain prediction and therefore the true stress-strain curve is recommended. In addition, the ductile rupture criterion based on the ultimate plastic strain of the material correlates with the experimental and explicit dynamic analysis results. This can ensure a certain design margin for tank rupture prevention.