A new approach is presented to characterize the variable leakage resistance, a parameter in the variable leakage resistance model we developed to model supercapacitors used in environmentally powered wireless sensor network applications. Based on an analysis of the supercapacitor terminal behavior during the self-discharge, the variable leakage resistance is modeled as a function of the supercapacitor terminal voltage instead of the self-discharge time, which is more practical for an environmentally powered wireless sensor node. The new characterization approach is implemented and validated using MATLAB Simulink with a 10F supercapacitor as an example. In addition, effects of initial voltages and temperatures on the supercapacitor self-discharge rate and the variable leakage resistance value are explored.