Based on the structure of the prism, the cut angle of Wollaston-type parallel-splitting polarizing prism is derived by using refraction law. The intensity transmittance, the splitting ratio and the parallel degree of the two output beams are deduced by using Fresnel formula and intensity transmittance theory of thin film. The variation relationships of law of intensity transmittance, splitting ratio and the parallel degree of the two output beams with incidence angle or incident wavelength are simulated under the Matlab environment. Experimental results of the intensity transmittance and the parallel degree varying with incident angle are obtained. The parallel degree is in good coincidence with the theoretical one and the law of intensity transmittance agrees with the theoretical one. Both theoretical and experimental results show that the intensity transmittance and the intensity splitting ratio of the Wollaston-type parallel-splitting polarizing prism fluctuate slightly with the incident angle and the incident wavelength. The included angle of the two beams is not more than 0.42 and maintains a good parallelism when the incident angle is in the range of (-3~3)° or the wavelength in range of 400~1 100 nm.