Normally, FTire model parameters are determined by experimental tests. However, because of the high cost of experiment equipment and limitations in rig design and operating conditions, it is hard to obtain all the required data by experimental tests, especially for some large tires, such as the running wheel tires of straddle-type monorail vehicles. To solve this problem, a method based on finite element (FE) simulations is put forward. To achieve the goal, a three-dimensional FE model of a 345/85R16 radial tire is developed using ABAQUS software. In addition, a modified exponential decay friction model, derived from tire tread rubber friction tests, is put forward and applied in the following FE simulations using the ABAQUS user subroutine FRIC. To verify the accuracy of the present model, tire vertical stiffness test, lateral stiffness test, and tire contour geometry measurement are designed. Through the comparison of measurements and FE simulations, it turns out that the model is capable of predicting tire properties accurately. Tire static, steady-state, modal, and dynamic cleat tests are modeled. Finally, data such as vertical stiffness, cornering stiffness, and natural frequencies are derived from FE simulations. Based on the data derived from FE simulations, the FTire model parameters are identified and then validated by comparing the force responses of the FTire simulation in the ADAMS/Tire test rig and FE simulations. The results show that there is an acceptable agreement between them, reflecting that the method is feasible.