Based on the basic conservation equation of fluid, uses the critical flow model to calculate the steam flow at each outlet, and deduces and establishes the dynamic model of steam bypass exhaust system. In order to obtain the dynamic characteristics of the steam bypass exhaust system of steam turbine, a transient model is established on the MATLAB & Simulink simulation platform by using the mechanism method. By introducing a variety of boundary condition disturbances, the dynamic characteristics of the steam bypass exhaust system are determined. The transient response of steam flow and exhaust condenser valve disturbance is analyzed. The transient simulation results accord with the physical law. These results are of great significance to the subsequent design of steam turbine steam bypass exhaust control system. Copyright ©2021 Nuclear Power Engineering. All rights reserved.