This study developed a dynamic simulation model of hydrogen refueling station (HRS) for the refueling process from high-pressure bank (HPB) to vehicle tank (VT) of fuel cell electric vehicle (FCEV). The model validation was confirmed by comparison with the results from the experimental test of Society of Automotive Engineers (SAE) J2601 protocol. After the validation, the same components and their specifications are used for the analysis of the refueling characteristics in various initial and boundary conditions by a commercial process simulator (Aspen HYSYS). The pressure and temperature profiles of the VT and external temperature conditions were defined for the analysis of the hydrogen refueling characteristics. The dynamic simulation model was in a good agreement with the experimental data and supports to evaluate hydrogen refueling efficiency by the analysis of refueling characteristics.