Abstract Based on the actual situation of the knowledge flow during industrial transfer, a dynamic model of knowledge flow in a complex network is built. The mechanism of the knowledge flow in the network is analysed, and an analogue simulation is conducted using the Netlogo platform to identify the effects of the network's average degree, the number of enterprises involved in the transfer, the network size, and the effective transmission rate of the knowledge on the efficiency of the knowledge flow in the network. According to the final steady state of the knowledge, the technology spillover effect of the industrial transfer is then discussed. The research results show that the average degree of the network, the number of enterprises involved in the transfer, and the effective transmission rate of the knowledge have significant influences on the efficiency of the knowledge flow in the network, and increasing the network size is beneficial to increasing the number of final knowledge owners. Thus, the final steady state of the knowledge flow plays a decisive role in the technology spillover effect of industrial transfer.