Electric power steering system (EPS) has been used to replace traditional hydraulic power steering system (HPS) in automobiles. In an EPS system, the assisting steering power is from an electric motor. In principle, the control of the EPS system mainly involves magnitude and direction's adjustment of motor current to control the torque in order to satisfy steering requirement. This research is aimed at developing steering agility and stability, improving real-time performance of the EPS system. In this paper, the structure and working principle of electric power steering system are analyzed. The dynamic models of torque sensor, input shaft, output shaft, assist motor and linear assist characteristic curves are established. A phase lead compensation control strategy of PID closed-loop control is proposed. The simulation model of the EPS is established based on MATLAB/simulink. The simulation results show that the designed control strategy promotes the real-time performance of the system, and alleviates the contradiction between the steering agility and the sense of road, which prove the validity of the control strategy.