Route choice is a practical problem that cannot be avoided in daily life. Since pedestrians still need to identify if the real landmark is the same landmark in route instructions under the assistant of pedestrian navigation system, a model of pedestrian road network was established. A pedestrian route choice model was proposed by introducing the subjective judgment of delay time and distance into Prospect Theory (PT). The simulation experiment is performed, in this study, on partial region of China University of Geosciences (Wuhan), the results show that the subjective judgment delay time in the same Origin-Destination (OD) pair calculated by the proposed pedestrian route choice model is 0.6 s less than the shortest subjective judgment delay time, and the lengths calculated by it are longer than the shortest routes, however they are all less than 16 m. The experiment results show that the proposed model gives a more realistic route, which meets the actual needs of pedestrians travel.