This paper takes the Type JJ-I waterjet cutting machine (WCM) as the research object, and establishes a mathematical model for its waterjet pressurization system, then it applies SIMULINK, the dynamic simulation tool package in MATLAB, to simulate the pressure fluctuations of the ultra-high pressure pressurization system and the outlet velocity of the high-speed waterjet. The simulation research showed that, the greater the working pressure, the greater the pressure fluctuations, and the pressure fluctuation rate was decreased. By adjusting the reversing time, the pressure fluctuations increased from 16.01Mpa to 25.31Mpa. It can be seen that the reversing time had a great impact on pressure fluctuations. Under the same working pressure, the size and the frequency of pressure fluctuations remained unchanged. As the volume of the energy accumulator decreased, the increment in pressure fluctuations increased accordingly. As the volume of the energy accumulator decreased from 0.7L to 0.3L, the pressure fluctuations increased by 13.38Mpa. The simulation research in this paper pointed out a direction for improving the dynamic performance of the waterjet system.