The triple-bed circulating fluidized bed gasifier is a new type of the gasification process in which the combustion process, pyrolysis process, and gasification process of the fuel are carried out in different reactors. The inert heat carrier is used to transfer heat between the reactors. In this way, the gasification efficiency of char is improved since the tar and pyrolysis gas generated in the pyrolysis process will no longer hinder the gasification of the char. The thermodynamic equilibrium model is used to simulate the gasification process of the triple-bed circulating fluidized bed, and the sub-models are established to simulate combustion, pyrolysis, and gasification processes. The simulation results agree well with the experimental values. Besides, the model studies the effects of key parameters such as the gasification reaction temperature and the ratio of steam to C (S/C) on gasification performance. Results showed that higher gasification reaction temperature has a positive effect on gasification performance, S/C may not be too high, and excessive water vapor will directly affect the gasification reaction.