In space applications, space charge inside dielectric materials can lead to unwanted phenomena such as breakdown and electrostatic discharge. To prevent such incidents, the pulsed electroacoustic (PEA) device is employed to measure the space charge of dielectric samples. Unfortunately, most of the current PEA signal processing methods are inaccurate in studying the dielectric materials that attenuate and disperse the acoustic wave, as well as studying multi-layer or thin samples. A model under the PSpice software is developed in this work with the aim of improving the PEA signal processing. This model is an evolution of previous works, including the attenuation and dispersion of a polymer sample using the nearly local Kramers–Kronig relation. This model of the polymer sample is implemented into PSpice as a frequency dependent transmission line using Branin’s method of characteristics model. A comparison of a model simulation and an experimental PEA signal obtained from a PTFE sample is presented.