Based on the working principle of the TC2400 Tower-belt, the power bond graph of the hoisting mechanism hydraulic system was established under the listing loads condition. The dynamic equations of the system were deduced according to the logical relations amongst the established power bond graph variables. Based on the dynamic equations of the system, the system’s simulation model was established using the block diagram of SIMULINK. By setting the simulation parameters of the hydraulic system, this simulation was carried out, and the performance curve of the hydraulic system was obtained. The simulation results checked the validity of the simulation method, proved the feasibility to build model and simulate the hydraulic system of the large construction machinery by combining power bond graph with SIMULINK, and provided a theoretical direction for improving and optimizing the system.