Thermal management is an important factor in securing the safe and effective operation of a fuel cell vehicle (FCV). A parameterized stack model of a 100 kW proton exchange membrane fuel cell (PEMFC) is constructed by matlab/Simulink to design and asses the thermal management characteristics of a 100 kW full-powered FCV. The cooling components model, with parameters obtained by theoretical calculation based on the cooling requirement, is developed in the commercial solver GT-COOL. A thermal management simulation platform is constructed by coupling the stack model and cooling components. The accuracy of the modeling method for the stack is validated by comparing with the experimental data. The relationship between the operating temperature and output performance of the fuel cell stack is revealed based on the simulation model. The simulation results show that the operating temperature has a considerable influence on stack performance under high-current operation, and the inlet and outlet temperatures of the stack change nearly linearly with the increasing environmental temperature. The heat dissipation potential of the thermal management system under the high-load condition is also verified. The temperatures and coolant flow of core components, including the stack, DC/DC, air compressor, and driving motor, can meet the cooling requirements.