The effects of different oil flow rates and aeration degree on the performance of power reversing were studied. The oil flow rate of tractor power reversing clutch is easily affected by temperature, return spring stiffness and preload force, and the air content of hydraulic oil is easily polluted during filling and working. The reversing performance was evaluated by using reversing time, impact, slip work and wear to improve the quality of the tractors power reversing, working efficiency and service life of the drive train. Taking the TX4A drive train of Dongfanghong LF2204 tractor as the research object, the mathematical model of the dynamic reversing process considering the oil filling flow and aeration degree was established. The mechanical model, control model and hydraulic model of the reversing clutch were established based on ADAMS, Matlab/Simulink and AMESim. Simulation analysis and bench test were carried out under the condition that the forward gear changed to the backward gear when the tractor was working in I gear. The simulation results showed that when the hydraulic oil aeration degree was 0.1% and the oil filling flow rate was 16L/min, and 14L/min, compared with the flow rate of 20L/min, the commutation time was increased by 20% and 43%, the transmission minimum output torque was decreased by 26% and 52%, the slip work was increased by 33% and 78%, the maximum impact degree was decreased by 11% and 18%, maximum wear was increased by 24% and 44%, respectively. When the oil flow rate was 20L/min and the aeration degree was 1% and 5%, compared with the aeration degree of 0.1%, the commutation time was increased by 26% and 85%, the minimum output torque of the transmission was decreased by 0.4% and 0.8%, the slip work was increased by 38% and 163%, the maximum impact degree was decreased by 57% and 50%, and maximum wear was increased by 47% and 163%, respectively. The bench test results showed that the variation trend of the test data was basically consistent with that of the simulation test data, and the error was within 5%. The maximum error occurred when the oil filling flow rate was 20L/min and the aeration degree was 5%. The main reason was that the oil pulsation itself had impact on the sensor, and the proportional valve was affected by oil bubbles, which reduced the output accuracy.