Thermal runaway (TR) modeling is one of the primary tools that can be used to overcome challenges associated with lithium-ion battery (LIB) safety. Among all LIB accidents that have occurred over the past decade, Internal Short Circuit (ISC) remains the most common trigger mechanism. Many available models in the literature either use a simplified approach to simulate ISC or completely ignore its contribution. The aim of this study is to understand the nature of the heat released for different types of ISC scenarios, including aluminum-anode, anode–cathode, and copper-cathode ISC. We study ISC behavior using a coupled electrochemical–thermal model with an integrated TR chemical kinetics solver built in the COMSOL Multiphysics framework. The time duration of heat release and the magnitude of the peak ISC current are studied as functions of parameters such as the size of the penetrating filament and the capacity of the cell. The numerical results are used to build an empirical model validated against the published experimental TR propagation data. Our model can be successfully used as a viable low-cost substitute in lower order (lumped) TR simulations to enable TR prevention and mitigation.