A co-production system based on FT synthesis reactor and gas turbine was simulated and analyzed. Syngas from entrained bed coal gasification was used as feedstock of low temperature slurry phase Fischer-Tropsch reactor. Raw synthetic liquid produced was fractioned and upgraded to diesel, gasoline and LPG. Tail gas composed of unconverted syngas and F-T light component was fed to gas turbine. Supplemental fuel (NG, or refinery mine gas) might be necessary, which was dependent on gas turbine capacity, expander through flow capacity, etc. FT yield information was important to the simulation of this co-production system. A correlation model based on Mobil’s two step pilot plant was applied. This model proposed triple chain-length-dependent chain growth factors and set up correlations among reaction temperature with wax yield, methane yield, and C2-C22 paraffin and olefin yields. Oxygenates in hydrocarbon phase, water phase and vapor phase were also correlated with methane yield. It was suitable for syngas, iron catalyst and slurry bed. It can show the effect of temperature on products’ selectivity and distribution. Deviations of C5+ components yields and distributions with reference data were less than 3%. To light gas components were less than 2%. User models available to predict product yields, distributions, cooperate with other units and do sensitive studies were embedded into Aspen plus simulation. Performance prediction of syngas fired gas turbine was the other key of this system. The increase in mass flow through the turbine affects the match between compressor and turbine operating conditions. The calculation was carried out by GS software developed by Politecnico Di Milano and Princeton University. The simulated performance assumed that the expander operates under choked conditions and turbine inlet temperature equals to NG fired gas turbine. A “F” technology gas turbine was selected to generate power. Various cases were investigated so as to match FT synthesis island, power island and gasification island in co-production systems. Effects of CO2 removal/LPG recovery, co-firing, CH4 content variation were studied. Simulation results indicated that more than 50% of input energy was converted to electricity and FT products. Total yield of gasoline, diesel and LPG was 136g-155g/NM3(CO+H2). At coal feed 21.9kg/s, net electricity exported to grid was higher than 100MW. Total production of diesel and gasoline (and LPG) was 118,000 tons(134,000tons)/Year. Under economic analysis conditions assumed in this paper, co-production system was economic feasible. The after tax profits can research 17 million EURO. Payback times were ranged from 6-7 years.