The effects of co-feeding gas on Fischer-Tropsch synthesis were studied in slurry bubble column reactor by modeling simulation. The optimized method of co-feeding gas in slurry bubble column was firstly selected through co-feeding inert gas. In this method, total reaction pressure and dispersion height were changed with co-feeding gas to keep the partial pressure of syngas and space velocity unchanged. Based on this method, the effects of CO2 and lower carbon olefins on Fischer-Tropsch synthesis were simulated. The results show that with inlet CO2 increasing the conversion of syngas decreases. The increasing CO2 results in the increasing of the mole ratio of olefin to paraffin; CO2 mainly affects the reactions of Fischer-Tropsch synthesis from water/gas shift reaction; when olefins are co-fed, the formation rates of hydrocarbons lighter than co-feeding olefin are suppressed, while the formations of hydrocarbons heavier than co-feeding olefin are enhanced.