The mathematical model of vacuum breaker valve is significant to the protection scheme. The more accurate the vacuum breaker valve model, the more reliable the calculation results. In this study, the application conditions of the air valve model are analyzed according to the assumptions used in the derivation, and the contradictions between these assumptions are proposed. Then, according to the different working characteristics between the vacuum breaker valve on the siphon outlet pipe and the air valve, the vacuum breaker valve model is deduced based on the modified assumptions. In the derivation process, the thermodynamic change of the gas in the vacuum breaker valve is assumed to follow the isentropic process rather than an isothermal process, and the water level in the vacuum breaker valve is considered to be changeable. An engineering case is introduced, and the results calculated according to the vacuum breaker valve model are compared with those resulting from the air valve model. The results indicate that the vacuum breaker valve model is suitable for large air mass conditions and can provide a theoretical basis for the numerical simulation and settings of vacuum breaker valves.