In order to improve the efficiency of magnetic pulse compression circuit and reduce its volume, by using PSPICE circuit simulation software and using the method of control variables, the factors that affect the circuit were analyzed and simulated. The simulation analysis was carried out when the nanocrystalline material was used as the core, with the total compression ratio of 100 and the volume of the two-stage magnetic pulse compression circuit at the smallest status. The results show that the pulse rise time is compressed from 6.7μs to 67ns, which meets the requirements of pulse gas laser for fast discharge time; when the load resistance is 250Ω, the first reset current is 1.09A~9.80A, and the second reset current is 3.27A~14.50A, the maximum efficiency of the system is 81.9%; the value of the resistance and the reset current too large or too small will affect the efficiency. This study provides a reference for the further improvement of the efficiency of the magnetic pulse compression circuit and the miniaturization of the volume.