The centrifugal compressor is the core component of the supercritical carbon dioxide (SCO2) power cycle. It is essential to carry out component-level experimental research on it and test the working characteristics of the compressor and its auxiliary equipment. Building an accurate closed-loop simulation model of closed SCO2 compression loop is a necessary preparation for selecting loop key parameters and establishing system control strategy, which is also an important prerequisite for the stable operation of compressor under test parameters. In this paper, the thermodynamic model of compressor, pre-cooler, orifice plate and other components in supercritical CO2 compression test system is studied, and the simulation model of compression test system is established. Moreover, based on the system enthalpy equations and physical property model of real gas, the compressor, pre-cooler and other components in the test loop are preliminarily designed by using the thermodynamic model of components. Since the operating conditions are in the vicinity of the critical point, when the operating conditions change slightly, the physical properties of the working fluid will change significantly, which might have a greater impact on the operating performance of the system. So the operating performance and the parameter changes of key nodes in the test loop under different operating conditions are calculated, which will provide theoretical guidance for the construction of subsequent experimental loops.