Some numerical simulations were used to study the effects of blowing ratio (0.25–0.5), hole diameters(0.65~1 mm), and hole inclination angle (30~60°) of the film cooling structure on the cooling and aerodynamic characteristics of the axisymmetric plug nozzle under the condition of transonic. The results showed that the bow shocks appear near the film holes on the plug wall in the supersonic region, which cause the wall cooling effectiveness of the plug to decrease. Compared with the baseline plug, the blowing ratio ranged from 0.25 to 0.5, the wall average temperature of the rear plug decreased by 34.4~48.1%, the thrust coefficient and total pressure recovery coefficient decreased by 0.31~0.61% and 0.52~0.93%, respectively. When the perforated percentage is constant, the wall cooling effectiveness increases with the decrease of the hole diameters. The increase in the inclination angle of the film holes lead to the decrease in cooling effectiveness and aerodynamic performance. This is because the penetration ability of the cooling air to the mainstream is enhanced, and the obstruction to the mainstream boundary layer is increased, resulting in the increase of bow shock intensity near the film holes in the supersonic region.