With the combination of production, profits and benefits, this paper proposed a model for the economic analysis of the vehicle engine remanufacturing by adopting Venism of system dynamics to evaluate and dynamically simulate the benefits of the engine remanufacturing.Based on the model, an engine-remanufacturing enterprise was selected as an example to conduct a simulating analysis of its production, profits per item and overall benefits. It has been concluded that enterprises' profits mainly come from contracting vehicle engines, and the profits from overhauled and scrapped vehicles are relatively low. Therefore, the relevant laws and regulations and policies for subsidies should be improved to increase the rate of recovery so that the scale effect of the enterprise could be advanced.