This work deals with bond-graph modeling and identification of variable-displacement pressure-compensated pump using a gray-box modeling approach. The model structure is defined using the bond graph technique, a graphical representation based on flow of energy in the system, which is implemented in the 20-sim software. The bond graph model is converted to state-space representation and the unknown parameters of equations of state are estimated applying parametric identification technique, the Prediction Error Method (PEM) on the SITB (System Identification Toolbox) MATLAB ® software. The obtained model is validated collecting an experimental data set on test rig and comparing to simulation results.