This invention discloses a multi-phase flow simulation analysis method based on generalized mobility, which comprises the following steps: S1: The generalized mobility describes fluid flow laws in different subset of study area by using the generalized mobility models with the same form; S2: On the basis of generalized mobility, the multi-component multi-phase flow simulation equations are established. Through solving the above mentioned multi-component multi-phase flow simulation equations, the pressure, temperature, saturation, and mole percentage of each component and each phase of multicomponent multiphase flow fluids in study area are obtained; S3: The corresponding application software are formed by using the established multi-component multi-phase flow simulation and analysis equations. The invention plays an important role in solving the single and multi-well flow simulation of complex multicomponent multiphase flow reservoirs, multi-well interference analysis, deliverability analysis, transient pressure analysis, transient rate analysis, transient temperature analysis, well test design, and permanent downhole monitoring data analysis.