In pulse wave analysis, the changing curve of pulse wave strength with continuous increasing pressure, that is, the P-S (pressure-strength) curve, contains abundant human physiological information, but there is no accurate model to describe the formation mechanism of the curve. Therefore, this paper proposes a modeling method of the radial artery P-S curve based on the radial vibration of the vascular wall. The modeling method includes three parts. Firstly, based on hemodynamics, we proposed the blood motion equation in the pulsation process of healthy people. Secondly, the motion equation of the vascular wall based on the fluid–structure interaction between blood motion and vascular wall was established. Finally, according to the elastic theory of the vascular wall, the relationship between pulse strength and extravascular pressure of blood vessels was found. To verify the accuracy and applicability of the model, this paper simulated the changes in the vascular wall stress and the intravascular pressure with the extravascular pressure during the process of vascular deformation. In addition, 69 healthy volunteers were selected to participate in this study. Based on the gradient compression, the pulse strength envelope under the continuous pressure sequence of the radial artery, namely the pulse P-S curve, was extracted. We also analyzed the relationship between the individual P-S curve difference and BMI. The results show that the actual human body data collection and analysis results are consistent with the theoretical model established in this paper, which indicates that the model can provide a novel idea for the evaluation of the state of the human body.