Hydrogen is considered as one of the most promising future energy carriers due to its noteworthy advantages of renewable and high calorific value. The long-term storage of liquid hydrogen with low heat leakage is essential for future deep space exploration. Because of low critical temperature and volatility, liquid hydrogen tank poses severe requirements to multi-layer insulation (MLI). In order to reduce heat leak into tank, vapor cooled shield (VCS) was set up to cool MLI by retrieving the heat of discharged cryogenic gas hydrogen. This paper presents an parametric study on insulation system in liquid hydrogen storage vessel with MLI and VCS. Thermal model was developed, and heat transfer analysis by varying VCS position was conducted. Temperature and heat flux distributions along time passing were derived, and effect of VCS position on insulation performance was investigated.