The design and analysis of jet pipe servovalves are mostly based on linear models. However, there are some nonlinear factors in this kind of electromechanical–hydraulic structure. The article deduces a linear rotation equation for the armature assembly and a linear flow equation for the control cavity. With the consideration of nonlinear hydraulic reaction forces in the second stage, the nonlinear dynamic equation of the main spool in an ideal jet pipe servovalve is derived. Based on the MATLAB (R2016a) software, the nonlinear model of a certain type of jet pipe servovalve is numerically investigated. The equilibrium points of the nonlinear system are calculated, the phase portraits are plotted, and the Hopf bifurcations caused by the flow-pressure coefficient as the control parameter and the period-doubling bifurcations caused by the variation of the input signal are analyzed. The vibration frequency of the time-domain response of the fifth-order system with a cosine signal as input is 242 Hz, which is similar to the experimental value of 233 Hz. The relative error between the two is 3.9%, verifying the validity of the nonlinear system model.