DEVSim++ is a C++ based, object-oriented modeling/simulation environment which realizes the hierarchical, modular DEVS formalism for discrete event systems specification. The paper describes a methodology for performance modeling and analysis of an ATM-based network system within the DEVSim++ environment. The methodology develops performance models for the system using the DEVS framework and implement the models in C++. Performance indices measured are the length of queues located at connection of the system and cell waiting times with respect to QoS grades for a network bandwidth of 155 Mbps.