The efficient exploitation of marine oil and gas resources holds significant potential to mitigate the current severe energy crisis. Regrettably, incidents, such as gas kick and even blowouts, can significantly impact normal development activities. The displacement kill method is one effective strategy for well control in deep-water areas. In this study, the detailed mathematical method for determining kill parameters involved in the kill operation by using the displacement kill method was proposed. Of course, this includes both cases: one where the kill fluid leaks during the kill process and another where no leakage occurs. Meanwhile, its applicability was verified through comparison with experimental results. Then, evolution characteristics of kill parameters, when killing fluid leakage occurs and when it does not occur, were analyzed. Finally, factors, such as pit gain and shut-in casing pressure, affecting the kill parameters of kill operation, were explored. It was found that the experimental and calculated results show great similarity, although there are slight differences between them. The total kill time in the simulation is 44 s shorter than that in the verification experiment. This indicates that the model established in this study is suitable for simulating the process of kill operation using the displacement kill method. In addition, the investigation results show that leakage of kill fluid increases the difficulty of the kill operation and prolongs the operation time. The number of kill cycles in the presence of kill fluid leakage is one more than that when there is no fluid leakage, resulting in an additional 70 min of total duration. Furthermore, the increase in pit gain and the rise in shut-in casing pressure can also pose challenges to the kill operations. The total kill time will be extended by 164 min when the mud pit gain increases from 20 m3 to 50 m3. The number of kill cycles rises by two when the shut-in casing pressure is increased from 5 MPa to 20 MPa. To ensure the safety of the drilling operation in abnormally high-pressure reservoirs, it is crucial to monitor parameters such as casing pressure during the drilling process and timely well control measures.