The traditional method of the short-circuit current calculation, which is used for the operation mode arrangement, costs too much time. It cannot meet the demand of fast analysis and decision-making. Therefore, a fast algorithm of short-circuit current calculation that is applicable to the grid topology adjustment is put forward. Based on the node impedance matrix and compensation method, it can analyze the changes of impedance matrix caused by the generator outage, line outage and line out series, and based on which the calculation procedure is given. The performance of the proposed method is demonstrated by tests on several real power systems. The simulation results show that the proposed method is fast and accurate, and it can meet the demand of the operation mode arrangement of large-scale power systems. Furthermore, this method is able to provide the technical support for the measure analysis of the short-circuit current limitation.