The GM low-temperature refrigerator can produce a low-temperature environment in the -260 ℃ temperature range and has been widely used in scientific research, high-temperature superconductivity, nuclear magnetic resonance, and other fields. In order to improve the performance of the refrigerator and analyze the internal loss mechanism, this paper mainly conducts numerical simulation and experimental research. The paper constructs a numerical model of a single stage GM low-temperature refrigerator, including three modules: compressor, rotary valve, and cold head. The simulated calculation results show that the cooling capacity is consistent with the experimental results in the temperature range of -240 ℃ (30 K) or above, but there is a deviation in the liquid hydrogen temperature range. The paper uses the method of exergy loss analysis to quantitatively analyze the efficiency of GM low-temperature refrigerators. The results show that the coupling of compressor, rotary valve, and cold head is the key to improving the performance of GM low-temperature refrigerators, which has important guiding significance for the further development of GM low-temperature refrigerators.