By introducing an orthogonal double resonant cavity structure on one side of a MIM waveguide, a structural model for achieving plasmon-induced transparency effects was obtained. The transmission spectrum curve of the structure was calculated by the finite element method. Simulation results show that the resonant wavelength of the waveguide system is red-shifted with the increase of the effective resonant length (Leff) of the orthogonal double resonator, and when the orthogonal rectangular cavity is a symmetrical T-shaped structure, the transmission forbidden band will appear. Based on this, the physical conditions for generating an electromagnetic-induced transparent peak at the transmission band gap and the transformation law of the transmission peak are discussed when the orthogonal rectangular cavity is an asymmetrical structure. The electromagnetic induction effect can change the group velocity of light, resulting in a slow light effect. The research results show that the MIM waveguide structure with orthogonal rectangular cavity can obtain the maximum optical delay of 0.086ps.