Rod electrodes based on an electrostatic induction mechanism are widely used in various industrial applications, but the analytic solution of an induced charge mechanism on a metal rod electrode has not yet been systematically established. In this paper, the theoretical model of the induced charge on a rod electrode is obtained through the method of images. Then, the properties of the rod electrode under the action of the point charge are studied, including the induced charge density distribution on the rod electrode, the amount of the induced charge with different diameters and lengths of the electrode, and the effective space region induced by the electrode. On this basis, a theoretical model of the induced current on a rod electrode is established, which is used to study the induced current properties by a moving point charge. It is found that both the magnitude and bandwidth of the induced current increase with the increased point charge velocity. Finally, three experimental studies are conducted, and the experimental results show good consistency with the analysis of the theoretical model, verifying the correctness, and accuracy of the model. In addition, the induced charge mechanism studied in this paper can act as an effective basis for the rod electrode sensor design in terms of the optimal radius and length.