Drag torque in multi-plate wet clutch consumes engine energy, but also has significant affect on synchronization process during shifting. The mathematical models of drag torque and shift synchronization process were established, and the results carried out by Matlab/Simulink simulation were compared with experiment results as well. It is demonstrated that the models are correct and accurate. The influences of friction pair gap in multi-plate wet clutch, cooling oil flow and properties of cooling oil under different temperature etc. on drag torque, shift synchronization time and energy were analyzed. The conclusions have certain guiding significance to the multi-plate wet clutch theoretical study and structural design as well as transmission system matching.