Abstract: With the rapid and ongoing development of inland waterway transportation, there is a growing trend towards larger vessels and denser vessel traffic. A critical consequence of this trend is the generation of powerful ship waves, which have become a major cause of the erosion and structural damage of waterway banks. This issue poses significant challenges to the safety, stability, and ecological balance of inland navigation channels. To conduct an in-depth investigation into the complex hydrodynamic interactions between a moving vessel and the confined boundaries of a channel, this study develops a high-fidelity numerical simulation model. The model is based on the open-source Computational Fluid Dynamics (CFD) library, OpenFOAM, and innovatively integrates the Overset grid technology to accurately capture the complex, large-amplitude, and unsteady motions of the vessel. Furthermore, to enhance the precision of wave simulation, the model incorporates advanced turbulence models specifically suited for modeling wave breaking and evolution. This sophisticated framework is designed to meticulously analyze the evolution of ship-generated waves resulting from the vessel's forward motion and to identify the primary factors influencing their characteristics. The reliability and accuracy of the established numerical framework were rigorously validated against existing physical experimental data, ensuring its applicability for the subsequent parametric study. A systematic investigation was then conducted on a series of 12 distinct test cases, focusing on the effects of varying two key parameters: the ship's speed and its draft. The simulation results provide a detailed description of the complex formation process of ship waves in confined channels. Initially, as the vessel advances, a significant primary water level depression, or drawdown, is generated around the hull. This is immediately followed by the generation of distinct divergent wave systems originating from the bow and stern. As these waves propagate outward from the vessel’s path, they inevitably interact with the channel banks, leading to wave reflection. The reflected waves then superimpose on the primary wave systems, collectively forming the complete and intricate ship wave field. The evolution of the overall wave pattern is strongly influenced by the combined effects of the initial drawdown phenomenon and the bank reflection effects. Moreover, as expected, the wave energy gradually dissipates with increasing lateral distance from the ship's track, resulting in a distinct and measurable attenuation of the ship waves. The investigation into the influencing factors showed that ship speed significantly affects both the amplitude and the spatial distribution of the wave field. A measurable increase in ship speed leads to a marked increase in both the crest heights and trough depths of the ship waves. Concurrently, the primary drawdown as well as the bow and stern divergent waves are also intensified. A notable finding is that an increase in speed results in a shortening of the wavelength, indicating a more compact spatial distribution of wave energy. Comparatively, the influence of the ship's draft was found to be even more substantial and fundamental. An increase in draft indicates a larger volume of water displaced by the hull. This directly and substantially amplifies the magnitude of the wake waves, which are generated in the turbulent region behind the vessel's stern. This amplification does not merely increase the wave height but fundamentally alters the overall waveform characteristics and the morphological structure of the entire ship wave system. Finally, to translate these findings into practical engineering applications, this study uses the comprehensive dataset generated from the multiple numerical simulations. A key modification to the conventional empirical formula for maximum ship wave height is proposed by explicitly incorporating the ship draft as a key variable. The resulting revised formula demonstrates an improved ability to accurately predict the maximum wave heights under other operational conditions within similar channel configurations. This provides a reliable theoretical basis for the design and optimization of bank protection engineering. Moreover, the CFD computational framework established in this research represents a significant contribution in its own right. It provides a reliable, efficient, and versatile analytical tool for future investigations into ship wave prediction, capable of accommodating different ship types, complex channel geometries, and varied navigational conditions.