The present disclosure provides a power-hardware-in-the-loop simulation system, which includes an amplifier, a sensing module, an optimizer and a control module. The amplifier is electrically connected to the device under test, the optimizer is electrically connected to the sensing module, and the control module is electrically connected to the optimizer and the amplifier. The sensing module senses a voltage value of the device under test, and the optimizer obtains a voltage value of the equivalent current source model of a real-time simulator associated with the device under test, and then calculates the reference current value based on a voltage difference between the voltage value of the device under test and the voltage value of the equivalent current source model of the real-time simulator associated with the device under test. The control module controls the amplifier based on the reference current value.