Abstract: In order to study the heat transfer characteristics of the penetrative liquid cooling module, analyse the composition of thermal resistance and predict the junction temperature of chip, The two-dimensional thermal resistance simplified models of the liquid cooling module as well as traditional module are established. The advantage of liquid cooling module on heat transfer path is revealed. The thermal resistance network is established based on the thermal resistance equivalent theory, which is applied to establish a chip junction temperature prediction model with 45° calculation method. Based on the thermal resistance network, the chip junction temperature prediction model is established, and the thermal resistance composition of the chip heat dissipation process is analyzed with a concrete case. The difference between the chip junction temperature obtained based on the prediction model and the simulation value is less than 1%, which verifies the reliability of the prediction model. The results show that, compared with the traditional module, the penetrating liquid cooling module has the advantages of short heat transfer path and less interface. The main factors affecting the heat dissipation of the liquid cooling module are thermal resistances of both insulation heat conduction pad and convection heat transfer. The heat transfer performance of the penetrating liquid cooling module can be further improved by selecting interface materials with better thermal conductivity and optimizing the internal flow path structure of module.