In order to investigate the failure mechanisms of compression type tension clamp steel core and steel anchor in transmission lines that frequently fracture, the compression and tensile tests of NY-400/35 compression type tension clamp steel anchor are designed to obtain the ultimate bearing capacity of the compression area of the tension clamp steel anchor, and the simulation model of tension clamp steel anchor side is established by using Solidworks. The finite element analysis method is used to simulate the crimping and tensile process of the steel core crimping area of the tension clamp steel anchor, and the dangerous section and failure mechanism of the force transmission path of the tension clamp steel anchor are obtained by comparing with the experimental results. The results show that the failure form of the tensioning clamp of the steel anchor only is the fracture of the steel core, and the grip force value is only 50% of the calculated breaking force of the wire. There are three dangerous cross sections of the steel anchor at the exit of the steel anchor and the last die pressing joint and the steel anchor in the transition zone of the groove. Failure occurs when the clamp carries more than three sections of failure load or the maximum contact force between steel core and steel anchor. The failure load of dangerous section is positively correlated with the strength limit and cross-sectional area, and inversely correlated with the stress concentration level.