Pb-Bi-cooled direct contact boiling water fast reactor (PBWFR) can produce steam from direct contact of feedwater and lead bismuth eutectic (LBE) in the chimney of 3m height, which could eliminate the steam generators. Meanwhile it circulates LBE by means of buoyancy of steam bubbles and the primary pump is not necessary. The concept makes the reactor simple and compact. The thermal-hydraulic behavior and safety performance were studied by a computer program in the paper. The reactor power was simulated by the point reactor kinetics equations. The drift flux model was adopted to calculate the fluid density and pressure drops in the chimney. The rate of heat exchange of the feed water and LBE in the chimney was supposed to be constant. The results showed that PBWFR had very good inherent safety. The designs could ensure the integrity of the claddings. Meanwhile the impacts of axial conduction were also researched. It showed that even in the PBWFR, in which the temperature difference between inlet and outlet of core was 150°C, the impacts could also be ignored.

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