The invention provides a superspeed observation apparatus simulating a transient state of compressor oil and gas two-phase release. The apparatus comprises a constant pressure gas cylinder, a pressure reducing valve, a control valve, a compressor radial simulating device and a photographic device. The constant pressure gas cylinder is connected in series with the pressure reducing valve, the control valve and the compressor radial simulating device. A pressure gauge is arranged between the pressure reducing valve and the control valve, and the photographic device is placed on one side of the compressor radial simulation device. The compressor radial simulator comprises a microchannel main body, a sealing fin, a glass sheet and two feeler gauges disposed on one side surface of the glass sheet. A groove is arranged in one side surface of the microchannel main body, and an oil inlet hole, an air inlet hole and an air exhaust hole are arranged at intervals on the side surface adjacent to or opposite to the side surface. The microchannel main body is connected to the control valve through the air inlet hole; the sealing fin is mounted in the groove portion and forms a channel cavity with the groove; and the glass sheet and the two feeler gauges are placed in the channel cavity. According to the invention, accurate equivalent measurement can be carried on actual leakage of an internal working medium of a rotary compressor.