This study is concerned with the dynamic analysis of the main poppet of two-stage water hydraulic high speed solenoid valve using Hardware-in-the-Loop Simulation (HILS). Since the behavior of a main valve of a two-stage water hydraulic high speed solenoid valve is difficult to measure, HILS technology is applied as an efficient and a precise method for the analysis of dynamic characteristics of this valve. In order to apply HILS to this valve, a dynamic modeling of the main valve is derived. From the results of HILS analysis, it is confirmed that the dynamic characteristic of the main valve is satisfactory. Furthermore, the validity of HILS analysis of this study is verified by experiment.