The model of silicon-based micro-ring optical modulator is built and its modulation characteristics are simulated and analyzed by a time domain dynamic method. The dynamic analytical method discretizes the transmission process and has the advantage of computer programming compatibility. The spectrum and modulation bandwidth of silicon-based micro-ring optical modulator are studied by the dynamic analytical method for two modulation methods of micro-ring phase modulation and coupling modulation and the modulation mechanisms are explained and analyzed. The characteristics of chirp property, modulation efficiency, modulation depth, modulation bandwidth are analyzed and compared in detail. The research results provide a reference for realization and application of high performance silicon-based micro-ring optical modulator.