Using optical imaging equipment for survey of underwater resources often obtains lower quality of image because of underwater bubble’s interference. Taking analysis of radiation transmission characteristics of bubble and interference characteristics on the optical imaging instrument in the water environment has important guiding significance for improving anti-jamming capability of underwater imaging. At first, the single bubble underwater imaging environment is built and the changing trends of radiation intensity and polarization state for light transmitting in single bubble are simulated, and the transmission phase function on the interface of single bubble is obtained. Then, the changing trends of radiation intensity and polarization state of light with bubble distribution under multi-bubble imaging environment are simulated when increasing the number of bubbles on the basis of research on single bubble. Finally, the effects on forward transmission and backward transmission characteristics with different radius of bubble sizes and different distances of light transmission are simulated with Monte Carlo method based on theory of geometrical optics approximation. The study of bubble theory, simulation and experiment shows that the changing trend of produced light’s polarization at surface of bubble has strong correlation with observation geometry, when the angle of incidence is small, light has strong penetrability and the attenuation of radiation intensity is slow. The degrees of polarization of forward transmission and backward transmission show significantly opposite trend with increase of transmission distance. The theory, simulation and experimental results are basically consistent. The research can provide a certain reference value in target polarization imaging field under complex underwater environment.