In order to accurately analyze the actual variation law of plasma channel resistance during underwater discharge process,and to more precisely calculate physical quantities such as channel de-position energy and electro-acoustic conversion efficiency,a time-varying resistance function was con-structed based on the"U"curve of the plasma channel resistance of underwater discharges,where the parameters were determined by data fitting.And then,the time-varying resistance function was sub-stituted into the second-order variable coefficient differential equation with the channel current as the variable,and the numerical solution of the channel current was obtained by Runge-Kutta numerical al-gorithm.Lastly,the improved cosine similarity was used as the evaluation index to measure the difference between the simulation current and the measured current.The results show that the simula-tion current and the measured current are highly consistent,which verifies the effectiveness of the time-varying resistance model.