With the increasing scale of distribution network and the interconnection of distributed energy has brought a great challenge to the operation condition of distribution network, the phasor measurement technology has gradually become a research focus. In view of the problem that the algorithm can’t effectively balance the accuracy, response time and real-time performance in the transmission network, this paper proposes a phasor measurement algorithm which is suitable for distribution network. Under the condition of fixed interval and high frequency sampling, the algorithm uses dynamic calibration factor to correct the traditional DFT algorithm, which solves the shortcomings of the rapid decline in traditional algorithm measurement accuracy under the condition of power system frequency deviation or dynamic measurement. Finally, the phasor measurement software simulation platform is built in Matlab/Simulink based on the principle of the algorithm, providing a simulation environment for researchers to verify the phasor measurement algorithm of distribution network and the fault location, state estimation or other advanced application. This work is supported by National High-tech R & D Program of China (863 Program) (No. 2011AA 040103).