Based on the CEMDATA18 thermodynamic database, this study employs GEM-Selektor v3.3 (GEMS) software and MATLAB program to establish a hydration model for Low-Heat Portland cement (LHP cement). MATLAB is used to create a simulation program for LHP cement hydration, and further for the calculation of permeability value and thermal conductivity value based on the fractal theory. The research results show that water-cement ratio, curing temperature and hydration time are important factors affecting the hydration of LHP cement. The larger the water-cement ratio, the fewer hydration products produced in the cement paste, the looser the skeleton of the cement paste, the higher the porosity, the lower the thermal conductivity value. It is also find that the higher the water-cement ratio, the higher the permeability value of LHP cement paste, and the influence of curing temperature on the thermal conductivity of cement paste is mainly reflected in the early stage of hydration.