Since the microbubble drag reduction mechanism under different jet forms is not very clear, fluid calculation software Fluent was applied to carry out numerical analysis by using a simplified ship model. This study adopted the kepsilon turbulence model to calculate the variations of drag reduction rate under two kinds of flow velocities, two kinds of jet flows and six kinds of the jet forms, and the simulation results were compared with those of the test analysis. Numerical analysis of the microbubble volume fraction and twophase flow velocity distribution were conducted to summarize some theoretical results. The influence on the propeller efficiency was further considered as well. The compution results showed that the drag reduction effect becomes more ideal when the microbubble was jetted from the first portion and middle portion at the same time. The results obtained in this study could provide a guidance for the practice application of microbubble drag reduction technology.