In this paper, the matrix difference method is used to calculate the photoelectron continuity equation and the outgoing electron flux density equation. The effects of the GaAsP/AlGaAsP recombination rate, electron diffusion coefficient, and activation layer thickness on the time-resolved characteristics and quantum efficiency of a GaAsP photocathode are systematically studied, and the accuracy of the theoretical calculation is verified by experiments. The response speed and quantum efficiency of the GaAsP photocathode can be greatly improved by adjusting the thickness of the GaAsP activation layer reasonably.