With the advancement of agricultural mechanization, the safety of agricultural vehicles has aroused extensive concern. However, conventional methods evaluate the performance of the combine harvesters in a laborious and inaccurate filed-test way. It is still a challenge to evaluate their performance in a theoretical derivation-based simulation way. Here, we accurately derive the braking model of the combine harvester, which provides a guidance for further braking simulation. Firstly, a four-wheel braking system was designed and theoretically checked. Secondly, the virtual prototype of the chassis braking system was established in ADAMS, in consideration of the complicated contact characteristics between the tire and the road and between the friction pad and the brake disk. Finally, simulation experiments of braking efficiency and directional stability were carried out under different braking conditions. By this means, we find a novel effective yet simple way to optimize the braking efficiency as well as the sufficient braking stability of combine harvesters. The results show that braking efficiency would be improved with stronger braking force, lower initial braking velocity, and lighter weight of the combine harvester. Compared with straight-line braking, steering braking shows lower braking efficiency and less inclination of rear wheel bounce under the same braking conditions. As for braking directional stability, the lateral slippage would be increased with the locking of rear wheels, higher driving speed, or lower road adhesion coefficient. In addition, the simulation results are in agreement with the theoretical results, proving the validity of the virtual prototype simulation. Overall, other than traditional filed-test methods, our method provides an effective yet simple way for designing and evaluating the chassis braking system of combine harvesters.