Online simulations are utilized to reduce time and cost in the development and performance optimization of plug-in hybrid electric vehicle (PHEV) and electric vehicles (EV) systems. One of the most important factors in an online simulation is the accuracy of the model. In particular, a model of a battery should accurately reflect the properties of an actual battery. However, precise dynamic modeling of high-capacity battery systems, which significantly affects the performance of a PHEV, is difficult because of its nonlinear electrochemical characteristics. In this study, a dynamic model of a high-capacity battery cell for a PHEV is developed through the extraction of the equivalent impedance parameters using electrochemical impedance spectroscopy (EIS). Based on the extracted parameters, a battery cell model is implemented using MATLAB/Simulink, and charging/discharging profiles are executed for comparative verification. Based on the obtained results, the model is optimized for a high-capacity battery cell for a PHEV. The simulation results show good agreement with the experimental results, thereby validating the developed model and verifying its accuracy.