The analysis and calculation of the short-circuit fault current in the DC grid is of great significance to the design and configuration of the converter station and DC circuit breaker parameters. The existing flexible DC system not only includes the modular multilevel converter (MMC) converter, but also needs power equipment such as the fault current limiter and DC circuit breaker. Therefore, the system modeling and short circuit calculation of the multi-terminal DC system after adding the DC circuit breaker are also of great significance for the design of DC power system parameters and the grid troubleshooting ability. In this paper, firstly, the parameters of the four-terminal DC system of the modular multilevel converter (MMC) are simplified, and the analytical solution of the short circuit fault current of the multi-terminal DC system is given. Then, the external characteristics of the cascaded hybrid DC circuit breaker are modeled. Based on the equivalent circuit of the fault current in different stages, the short circuit calculation method of four-terminal MMC system with DC circuit breaker is obtained. This method can effectively describe the overall trend of fault current and provide the basis for the configuration of DC line protection settings and DC circuit breaker related parameters.