In the process that the submarine-launched missile exits the water, there is the complex fluid solid coupling phenomenon. Therefore, it is difficult to establish the accurate water-exit dynamic model. In the paper, according to the characteristics of the water-exit motion, based on the traditional method of added mass, considering the added mass changing rate, the water-exit dynamic model is established. And with help of the CFX fluid simulation software, a new calculation method of the added mass that is suit for submarine-launched missile is proposed, which can effectively solve the problem of fluid solid coupling in modeling process. Then by the new calculation method, the change law of the added mass in water-exit process of the missile is obtained. In simulated analysis, for the water-exit process of the missile, by comparing the results of the numerical simulation and the calculation of theoretical model, the effectiveness of the new added mass calculation method and the accuracy of the water-exit dynamic model that considers the added mass changing rate are verified.