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With the continuous expansion of power system capacity, parallel high-voltage circuit breakers with a Highly Coupled Split Reactor (HCSR) have a potential application for limitation of high short-circuit current. However, as the parallel circuit breakers open at different time, the residual voltage of the split reactor on the post-open circuit breaker is higher and the stray capacitors of HCSR form high-order oscillating circuits, which may lead to serious transient recovery voltage (TRV). Therefore, it is necessary to analyze and simulate the transient characteristics of 500kV HCSR. Firstly, the equivalent model of HCSR circuit breakers is built in EMTP simulation plat-form, and its TRV generation is analyzed. Then, the TRV of parallel circuit breakers under different operating conditions and fault types is simulated and calculated. Finally, according to the statistical calculation results, the protection measure of 0.2uF shunt capacitance to limit rise rate of TRV is proposed.