A theoretical model of the dry gas seal (DGS) was established, considering real gas, inertia, turbulence, and choked flow effects. The steady-state performance of supercritical carbon dioxide DGSs under high-pressure and high-speed operating conditions was analyzed. The results show that: the increase in groove depth will result in higher opening force and leakage; the opening force and leakage initially increase and then decrease with the increase in the spiral angle; the opening force and leakage increase with the increase in the inlet pressure; the increasing rotation speed leads to an increase in opening force and leakage.