In research concerning the impact resistance characteristics of ship power transmission shaft systems incorporating a high-elasticity coupling, a significant challenge lies in ascertaining the displacement compensation metrics for the high-elasticity coupling. This study constructs a finite element model of the ship power transmission shaft system with an entity equivalent model of the high-elasticity coupling. Utilizing the Dynamic Design Analysis Method (DDAM) and the time-history method, the dynamic responses of the high-elasticity coupling, the propulsion shaft system, and its critical cross-sections under explosive impact loads are analyzed. The findings indicate that the maximum impact displacement of the propulsion shafting system, as calculated by DDAM, is 22.47 mm in the vertical direction at the driven end of the high-elasticity coupling. In contrast, the maximum impact displacement determined by the time-history method is 15.23 mm in the same direction. The study corroborates the precision of the high-elasticity coupling equivalent model establishment methodology and confirms that the entity equivalent model of the power transmission shaft system with a high-elasticity coupling is capable of fulfilling the criteria for a swift evaluation of impact resistance characteristics. This provides theoretical backing for the forecasting of impact resistance performance in ship propulsion shaft systems.