The mass and energy transfer model of bubble condensation in subcooled boiling flow is established. The bubble condensation process is numerically simulated by VOF model. The bubble deformation and flow field characteristics are also obtained. The result agrees well with previous results. The results indicate that bubble shapes will change and are significantly influenced by the bubble initial diameter and the subcooled degree in condensation process. The bubble deformation will appear more sharply with increasing subcooled degree or initial diameter. The bubble will break when the subcooled degree and initial diameter reach a certain value at later phase.