Static property of a type of speed compensation valve was analyzed. It was found that the load capacity was in proportion to main valve spool spring stiffness K, throttling flow rate q, inverse of throttling coefficient C-1q, inverse of hydraulic perimeter of throttling port w-1, square root of oil densityρ0.5, throttling differential pressure Δp, ratio of rod diameter and piston diameter of load hydraulic cylinder R. The model used to study the dynamic property of the speed compensation valve was built by AMESim dynamic simulation code. By the results with the dynamic simulations of the model, it was observed that increasing control pressure pc could improve the steady speed magnitude of load, but had no effect on the transition time to reach steady speed. Decreasing spring stiffness K of main spool could improve the speed of load and increase the transition time. Increasing the mass of load would lengthen the transition time correspondingly, but had no effect on the final steady speed magnitude. The variation of taper spool diameter D almost had no influence on load dynamic property. Decreasing the ratio of rod diameter and piston diameter R would increase the final steady speed magnitude of load, but had no influence on the transition time of load speed.