Abstract: Aiming at the problems of incomplete efficiency composition, limitation to single working condition calculation and lack of power loss analysis in the current efficiency model research of hydro-mechanical continuously variable transmission (HMT), this study establishes a full-condition efficiency model of HMT considering the power loss of transmission components and accessories. Firstly, the general efficiency model of HMT variable pump-quantitative motor is established, and the relevant parameters are recognized according to the efficiency test data; then the efficiency models of other HMT transmission mechanisms and accessories are established, and the complete HMT efficiency model is obtained by combining the efficiency models of each part. Based on the self-developed HMT, the calculation is carried out to obtain the full working condition efficiency map and the loss power of each component mechanism, the test bench is built, and the efficiency test is carried out on the HMT to validate the accuracy of the model, and the average absolute errors of the efficiencies of the HM1 section and the HM2 section under full working condition are 0.0273 and 0.0261, respectively, which improve the accuracy of the HM1 section and the HM2 section by 64.59% and 55.46% respectively, comparing to the accuracy of the comparative methods. Combined with the efficiency diagram and power loss situation to analyze the HMT efficiency characteristics and influencing factors, the results show that: 1) the HMT efficiency model in this paper is mainly affected by the load and the displacement ratio e of the hydraulic unit, and the influence of the input speed is not significant; 2) the main influencing factors of this paper's HMT efficiency model are the load under the low load, and the displacement ratio under the high load; 3) the power loss of the pump motor has the greatest influence on the HMT efficiency, and the hydraulic loss power is large when e < 0. The HMT efficiency is low; when e = 0, the hydraulic loss power is 0, and the HMT efficiency reaches the highest; 4) the power loss of gears and clutches does not have a negligible impact on the HMT efficiency, and the consideration of the power loss of other accessories is conducive to the improvement of the modeling accuracy. Measures to improve the efficiency of HMT: 1) Try to avoid HMT working under power cycling conditions for a long time, and recommend operating at purely mechanical points and their nearby work points under the premise of prioritizing load demand and ensuring engine economy; 2) Avoid prolonged low load operation, and should be kept in high load conditions; 3) Select high-efficiency hydraulic unit or improve the transmission efficiency of the hydraulic unit by improving the parameters; 4) Improve parameters to reduce power loss under the premise of meeting the performance requirements of gears and clutches.