Abstract: Power electronic transformer (PET) can realize multi-voltage level and power form transformation, and will play an important role in flexible DC distribution network. With the increasing switching frequency of power electronic devices, the effect of dead time cannot be ignored. The current analysis of the dead zone is based on detailed models with extremely low simulation efficiency; while the acceleration model using the average value modeling idea can consider the overall impact of the dead zone, but cannot accurately reflect the internal transient characteristics of the PET. In order to improve the efficiency while reflecting the accuracy of the switching dead time, it is necessary to integrate the function of the switching dead time in the electromagnetic transient equivalent model of the PET. Therefore, this paper takes the multi-active bridge PET topology as an example. First, based on the generation process of its equivalent circuit and the control strategy of the switch dead time, the dead time is divided into unilateral dead zone and bilateral dead zone, and the equivalent models are established respectively. Then, according to different dead time settings and control parameters, the dead time electromagnetic transient equivalent model of multi-active bridge PET under different modes is established. Finally, the comparison between the detailed model and the equivalent model built in PSCAD/EMTDC shows that the PET equivalent model considering the dead time can improve the overall simulation accuracy and has a higher speedup ratio, so it can meet the needs of engineering testing simulation requirements.