Abstract: In order to research the equivalent thermal conductivity coefficient of Zirconium based dispersion micro encapsulated fuel（M3 fuel）,in this research,assuming the TRISO（three layer isotropic） particle embedded in the zirconium with body-centered cubic distribution,the simulation method for the equivalent thermal conductivity of M3 fuel is established with the help of ABAQUS software,based on the homogenization theory.The equivalent thermal conductivity coefficients of different phase volume M3 fuel were analyzed with this simulation method.Simulation results show that the equivalent thermal conductivity coefficient increases with the increasing of temperature,and the equivalent thermal conductivity coefficient decreases with the increasing of burnup and phase volume.