A numerical analysis model of the thermo-photovoltaic (TPV) system was constructed, and the matching properties of different modules were investigated. The influences of the emitter temperature and the velocity of the cooling system on the cell temperature and power output were discussed. The results indicate that there is an optimal velocity of the cooling system at which the maximum system efficiency is gained at every certain emitter temperature. With the increase of the emitter temperature, both the system efficiency and the net power output increase. But due to the rise of the cell temperature, the increase grads of the system efficiency drop. When the emitter temperature reaches 1800K, the maximum system efficiency of 18.22% is gained.