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A precise one-to-one equivalent nanocircuit model for layered metamaterials is presented in this work. The theoretical analysis establishes a precise link between the nanocircuit system and the optical film system by comparing between the optical transfer matrix of an optical film and the transmission matrix of the distributed-element model. Through dimensional analysis, the connection between the optical properties of the film and the distributed circuit components of the transmission line is revealed. Subsequently, the lumped-element model is simplified to the distributed-element model for nonmagnetic films with different optical features. Finally, the lumped-element model is further applied to multilayer metamaterials with different microstructures. All analysis is confirmed through the agreement between the S -parameters of the equivalent nanocircuit model and the reflection and transmission coefficients of the layered metamaterials.