Gallium nitride (GaN) power devices have many benefits, including high power density, small footprint, high operating voltage, and excellent power gain capability. However, in contrast to silicon carbide (SiC), its performance and reliability can be negatively impacted by its low thermal conductivity, which can cause overheating. Hence, it is necessary to provide a reliable and workable thermal management model. In this paper, a model of a flip-chip packing (FCP) GaN chip was established, and it was assigned to the Ag sinter paste structure. The different solder bumps and under bump metallurgy (UBM) were considered. The results indicated that the FCP GaN chip with underfill was a promising method because it not only reduced the size of the package model but also reduced thermal stress. When the chip was in operation, the thermal stress was about 79 MPa, only 38.77% of the Ag sinter paste structure, lower than any of the GaN chip packaging methods currently in use. Moreover, the thermal condition of the module often has little to do with the material of the UBM. Additionally, nano-silver was found to be the most suitable bump material for FCP GaN chip. Temperature shock experiments were also conducted with different UBM materials when nano-silver was used as bump. It was found that Al as UBM is a more reliable option.