The high-speed maglev traffic is a new transportation system that combines high speed, safety, green, and intelligence. The test and verification of the high-speed maglev transportation system mainly depends on the test line, which cannot meet the current test and verification requirements due to the large investment amount and long cycle. Semi-physical simulation is a real-time simulation technology that combines physical hardware and simulation software. The characteristics of semi-physical simulation technology include effectiveness, repeatability, economy, and safety. With the development of intelligent transportation, especially in the trend of intelligence and electronics, in recent years, semi-physical simulation technology has also played a crucial role in the development of intelligent traffic control systems. This paper introduces the design and implementation of a high-speed maglev traffic Semi-physical operation simulation system. Based on this system, it can realize the functional performance test and algorithm verification of key components such as suspension, guidance, and eddy brake controller in the laboratory environment, and can also conduct the whole system integration simulation of Shanghai maglev line, 4 stations and 3 sections line,6 stations and 5 sections line, and so on. Verify the rationality and reliability of the system design and support the research and optimization of the key technologies of the maglev transportation system. The simulation results show that the proposed semi-physical operation simulation system can meet the test and verification requirements of high-speed Maglev traffic system.