In this paper, a surface potential-based terminal charge and capacitance model, including parasitic components for AlGaN/GaN HEMTs is developed. First, by solving the charge control equations, the sheet charge density in the channel is modeled with a close-form expression. Then, using this result, based on the surface potential definition, the intrinsic terminal charges and capacitances are derived consistently with current model. Finally, by introducing parasitic components, the capacitances for the full structure of the HEMT devices are given. The model is evaluated step-by-step with good agreements compared with the TCAD simulations and the experimental data. Meanwhile, the effects of bulk traps and surface traps in the capacitances are analyzed. The complete model, including currents and capacitances has been implemented in i-MOS platform for evaluations and circuit simulations.