In this paper, simulations of the underwater discharge system with compressed air are performed to predict dynamic characteristics of the system and to find optimal opening trajectories of the expulsion valve. Major components of the system are defined and their governing equations are derived to make up the mathematical model. The compressed air discharge method is affected largely by the discharge depth, and therefore the opening trajectories according to the discharge depth should be found to satisfy the demands of discharge performances. Simulation results are compared with experimental data to confirm the validity of the system model.