On the basis of measured data about wave in Lake Taihu, the calibrated wave model which was described by thethird-generation spectral action balance equation was obtained. The several key wave's factors were considered in SWAN model suchas bottom topography, wave refraction, depth-induced dissipation, wave break, lake current, etc. The wave in Lake Taihu wassimulated and the main influence factors of wave were analyzed by this model. The results showed that the SWAN model can welldescribe the process of wave's growth and propagation in Lake Taihu. The distribution of wave heights, wave lengths, wave periods,etc, were closely related to wind speed, wind direction, water depth, etc. On the condition of the same direction and different windspeed, the required time from wave growth to wave stabilization was different;However, On the condition of the different directionand same wind speed, the required time was nearly the same. Therefore wave's growth were not only depended on wind speed, butalso depended on the wind's sustained action and fetch.