The new type wind power yaw reducer was virtually assembled in Pro/E for the operating conditions of the MW wind power yaw reducer. The planetary gear contact model of the new type wind power yaw reducer was built to simulate the change of the contact stress in the process of planetary gear operation with the interface of Pro/E and ANSYS. The results show that the initial maximum contact stress of the meshing planetary gear is 395 MPa and the maximum stress in the engagement process is 460 MPa, but it is still less than the material yield limit of the planetary gear. The results also show that the fatigue life of the gear teeth is 125 800 times, the cumulative fatigue factor is 0.725 01 by analyzing the fatigue loads and 42CrMo’s S -N curve of MW wind power yaw drive planetary gear, so it can meet the design and operation requirements for the MW wind power yaw reducer.