The components and work principle of the separate meter in and separate meter out (SMISMO) load sensing electro hydraulic system were introduced. The simulation model of studied system was built, a flow rate and pressure controller was designed to control both velocity of piston in the cylinder and pressure in the cylinder chamber. The flow rate controller was designed based on the calculation flow rate feedback, and the pressure flow compound control was realized based on the pressure close loop pressure controller. Simulation and experiment showed that the novel control system possessed high velocity control precise and good energy saving characteristics, the effects of SMISMO valve element frequency and damping on system control performance were studied by simulation. It provided theory support for design and application of the novel system.