The purpose of this study was to suggest design criteria for the HMT (hydro-mechanical transmission) of a 55 kW-class agricultural tractor, develop a simulation model, and evaluate its performance such as axle rotational speed, tractor speed, and power transmission efficiency. In this study, the HMT comprised a compound planetary gear and a HSU (hydro-static unit), and the compound planetary gear comprised two planetary gear sets. The HMT has three gear stages, and the maximum tractor speed was selected as 40 km/h. The simulation time was set at 2736 hours considering the lifetime of the tractor, and the simulation was performed for each gear stage at the engine-rated power conditions. As a result of the simulation, the axle rotational speeds for each gear stage were 39, 77, and 158 rpm, respectively. The range of tractor speed for each gear stage were 1.05-10.22 km/h, 10.74-20.17 km/h, and 20.70-41.40 km/h, respectively. The APE (absolute percentage gear) for the tractor's maximum speed between target value and simulation results were 2.20%, 0.85%, and 3.50%, respectively. Also, the power transmission efficiency for each gear stage were 0-75%, 72-81%, and 69-81%, respectively. The simulation results for the power transmission efficiency of the HMT were similar with the results of the previous research. This was a basic study on the development of the HMT for an agricultural tractor. In future studies, it is necessary to develop a tractor platform and evaluate the performance. The comparison between the simulation model and the HMT tractor should be performed.