The factors influencing rotate vector (RV) reducer dynamic transmission error were studied using virtual prototyping technology, which contained the elastic deformation, working load, part manufacturing error, and assembly clearance. According to the error transmission relationship of the RV reducer, 15 influencing factors were selected to design an orthogonal simulation test. The virtual prototype of the RV reducer was built using CREO and ANSYS, and imported into ADAMS for multi-body dynamics simulation. The simulation method reliability was verified via experiments. The results show that the circle center radius error of the pin gear, the amount of equidistant modification of the cycloid gear, the amount of radial-moving modification of the cycloid gear, the clearance between the support bushing and planet carrier, and the clearance between the crankshaft and the support bushing were positively correlated with the RV reducer dynamic transmission error. Among these, the circle center radius error of the pin gear has the greatest influence on the dynamic transmission error of the RV reducer followed by the amount of equidistant modification of the cycloid gear. The elastic deformation of the part and the load fluctuation show a certain gain effect on the transmission error, the elastic deformation of the cycloid gear has a great influence, and the elastic deformation of the pin gear has the least.