The invention discloses a multi-iteration electric power and communication joint simulation method based on global event axis synchronization. An electric power simulation event and a communication simulation event are added on one global event axis according to occurring time; an electric power and communication simulation progress is managed by the global event axis; when communication simulation software finishes one time of simulation of a global event, electric power simulation software generates one calculating example of electric power simulation according to simulation state information and simulation result information obtained from communication simulation, and one time of iteration simulation of electric power is carried out; a plurality of times of iteration can accurately reflect an evolution process of faults of an electric power and communication system and an evolution process of triggered cascading failures.