It is extremely dangerous for a turbocharged boiler to have a leakage fault in its vaporization tube. However, early detection and fault diagnosis of micro-leakage faults are very difficult. On the one hand, there are few fault samples that lead to a difficult and intelligent diagnosis. On the other hand, the system fault response characteristics of the characterization parameters in the process are complex and easily confused with the load-changing characteristics. In order to obtain fault samples and identify fault characteristics, a fault simulation model for the micro-leakage of the boiler evaporation tube is established based on the dynamic mathematical model of all working conditions. The model’s effectiveness is verified by typical fault experiments. The dynamic simulation experiments of three kinds of micro-leakage and four kinds of load changing were carried out. Through the analysis of combustion equilibrium and vapor-liquid equilibrium of 14 groups of characterization parameters, it is found that: (1) The reason for the poor discriminability in micro-leakage faults is that most of the characterization parameters tend to balance after 300 s and the dynamic response characteristics are similar to those of load increase. (2) There are four highly distinguishable parameters: the speed of the turbocharger unit, the air supply flow, the flue gas temperature at the superheater outlet, and the furnace pressure. When the micro-leakage fault is triggered, the first three parameters have a large disturbance. They show a trend of decreasing first and then increasing in short periods, unlike normal load-changing conditions. The fourth parameter (furnace pressure) rises abnormally fast after failure. (3) Under the normal working condition of varying loads, the main common parameters take 300 s to stabilize; the common stability parameter values should be recorded because when the micro-leakage fault of evaporation occurs, the steady-state increment of failure is larger than the normal steady increment under variable load conditions, by 2 to 3 times. (4) As the leakage fault increases, the disturbance amplitude of the characteristic parameters becomes larger. In addition, the stability of the steam system becomes worse, and fault discrimination becomes more obvious.