A pulse power system (1 MV, 50 kA, and 100 ns) based on Marx generator and Blumlein pulse forming line has been studied for characterization of a general system. Total erected Marx inductance and series resistance are calculated from modular testing of Marx generator and testing of Marx generator with Blumlein. The complete pulse power system has been tested with the termination of a liquid resistor load for finding the Blumlein characteristic impedance. Equivalent electrical circuits during the charging and discharging of the Blumlein are constructed from the characterized parameters of the system. These equivalent circuits can be used in the analysis of prepulse voltage and droop in the flat top of the main pulse in the pulse power systems based on Marx generator and Blumlein.