The structure principles under the flow and pressure working conditions are studied, in order to investigate the dynamic characteristics of the electro-hydraulic proportional pressure-flow hybrid valve. According to the structure principles under the two different working conditions, the transfer functions under such conditions are derived. With the transfer functions, some structure elements that may affect its performance, are investigated, afterwards some principles of optimality and effective methods for improving the dynamic performance of the valve are proposed. The conclusions can be used to instruct engineering applications and products designing. The test results conform to the results of the theoretical analysis and simulation, which proves the correctness of the study and simulation works.