We investigated spectroscopic data of the extended planetary nebula NGC 7026 in the wavelengths 3700-10,050 Å, secured with the Hamilton Echelle Spectrograph at Lick Observatory. This optical wavelength spectrum has been analyzed along with the International Ultraviolet Explorer (IUE) UV spectral data. The diagnostic diagram indicates that the planetary nebula has very complex electron densities of N ~ 3000-10,000 cm^-3. The electron temperatures are relatively low: around T = 8000-9500 K, probably as a result of an enhanced heavy elemental cooling. The electron temperature variation also indicates that the low-excitation line region is slightly higher than the high-excitation line regions perhaps as a result of the hardening of escaped UV ionizing photons into the outer shell part of low-excitation lines. We construct a photoionization model, with the central star of the planetary nebula at a temperature of T_eff = 80,000 K, to fit most of the relatively strong line intensities and the observed physical conditions. With this photoionization model construction and with a semiempirical ionization correction method, we derived the elemental abundances of the nebula. Compared to the average or normal planetary nebula, most elemental abundances of He, C, N, O, Ne, S, Ar, and Cl appear to be enhanced.