In order to analyze the energy consumption of wheel loader during working process, a threedimensional (3D) model of wheel loader is established by Pro/E software, and it is imported into the software SimulationX to build the kinetic model of the whole wheel loader. Meanwhile, the simulation model of hydraulic system is built by the same software. By integrating the simulation model of hydraulic system with the kinetic model, the cosimulation model of wheel loader could be achieved. The precision of cosimulation model of the working device is verified through the comparison between simulation results and test results. The testing results show that, under negative loading condition, the energy loss in multiway valve accounts for about 52%. The important energy loss in loader’s working hydraulic system using constant displacement pump is the large throttling loss of multiway valves. This study provides a reference for designing of a more energyefficient hydaulic system of wheel loader.