Aiming at the problems of narrow beam, small divergence angle, blocked output power and difficult alignment of laser diode(LD) light source, a deep sea high-speed wireless optical communication system based on commercial blue light emitting diode(LED) is proposed, and the system is tested and simulated in a kind of seawater channel of 10 m and 50 m respectively. The experimental and simulation results show that, in order to ensure the bit error rate of the system is less than 10-3, when the underwater channel is 10 m long, the data transmission rate can reach 500 Mb/s, and when the underwater channel is 50 m long, the data transmission rate can reach 20 Mb/s.