With the development of iron and steel smelting technology, the application proportion of DC electric arc furnaces will gradually increase in the future. In this paper, the Simulink model is built with reference to the 130-ton DC electric arc furnace produced by ABB ZHONG Shan Transformer Company Limited. In the model, the power performances of the large-capacity DC electric arc furnace are explored by adjusting the trigger angle, DC side arc resistance, and DC reactor values. From the result of the simulation, the power performances of the DC electric arc furnace are mainly affected by the rectifier trigger angle and DC side arc resistance.