A new approach for high-speed simulation is applied to the analysis of nuclear power system dynamics. The proposed approach is to first identify inherent parallelism and then to develop suitable parallel computation algorithms. The latter includes numerical integration and table lookup techniques that can be used for achieving high-speed simulation. A performance evaluation of the proposed methodology has been completed, which is based on benchmark simulation for pressurized water reactor plant dynamics. The multirate integration algorithm and an innovative table lookup technique running on a parallel processing computer system have proved to be the most advantageous in computational speed. Moreover, by using the proposed approach, faster than real-time dynamic simulation of nuclear power plant transients can be achieved.