The dynamic characteristics of the steam turbine speed governor system is one of the major factor that influence the security of the power system. It has important practical significance for the security of the power system to establish the detailed dynamic model of the steam turbine speed governor system through parameter identification. This paper starts from the actual needs of the modeling of steam turbine speed governor system, several key issues such as field test of the speed control system, data preprocessing, parameter identification and simulation verification are researched, the solution of the key problems in the field static test and dynamic disturbance test is summarized, a variety of data preprocessing algorithms and parameter identification algorithms are achieved, and a new method for the simulation verification is proposed. On this basis, software based on MATLAB for the parameter identification of the steam turbine governor system is developed, which can perform the data preprocessing, parameter identification and simulation verification. The software offers a variety of parameter identification method to identify the linear and nonlinear part of the system model quickly and efficiently, and provides detailed qualitative and quantitative method for the evaluation of the simulation verification. The parameter identification results of steam turbine governor system of a power plant show that the software is user friendly and feature rich, and also show that it can complete parameter identification of steam turbine speed governor system intelligently and precisely.