To accurately evaluate and manage future distributed wireless networks, it is indispensable to fully understand cooperative propagation channels. In this contribution, we propose cascaded multi-keyhole channel models for analyzing cooperative diversity wireless communications. The cascaded Wishart distribution is adopted to investigate the eigenvalue distribution of the multi-keyhole MIMO (multiple input multiple output) channel matrix, and the capacity performance is also presented for the wireless systems over such channels. A diversity order approximation method is proposed for better evaluating the eigenvalue and capacity distributions. The good match of analytical derivations and numerical simulations validates the proposed models and analysis methods. The proposed models can provide an important reference for the optimization and management of cooperative diversity wireless networks.