In order to improve the braking energy recovery, a parallel hybrid electric bus simulation model with electric braking system (EBS) was established by co-simulation platform for the TruckSim and Matlab/Simulink in this paper. EBS makes the front and rear shaft braking force arbitrarily distributed, which is more effective to improve the rate of energy recovery and the braking stability. A braking force distribution algorithm for hybrid electric bus based on EBS was designed in this paper. Under the premise to meet the driver's needs and the ECE regulations, this braking force distribution method focuses on making the braking force distribute to the drive shaft to a maximum extent, so as to obtain the maximum energy recovery rate by the utilization of the motor regenerative braking. At last, the simulation in different operating conditions was used to analyze the braking energy utilization and the braking performance based on the simulation model. The simulation results show that the braking force distribution algorithm designed in this paper can improve the driving mileage and the fuel consumption can be significantly decreased.