The structural changes and very-low-frequency (VLF) nonlinear dielectric responses are measured to evaluate the aging state of cross-linked polyethylene (XLPE) in power cables under various thermal aging conditions. For this purpose, the accelerated thermal aging experiments were performed on XLPE insulation materials at 90 °C, 120 °C and 150 °C with different durations of 240 h, 480 h and 720 h, respectively. The Fourier transform infrared spectrum (FTIR) characterization and differential scanning calorimeter (DSC) were tested to analyze the influence of different aging on physicochemical properties of XLPE insulation. Besides, the VLF dielectric spectra show that the permittivity and dielectric loss change significantly in the VLF range from 1 mHz to 0.2 Hz. A voltage–current (U–I) hysteresis curve referring to a standard sinusoidal voltage and the response current were introduced to characterize the nonlinear dielectric properties of XLPE insulation caused by thermal aging.