The heats of formation (HOFs) for a series of furazan-based energetic materials were calculated by density functional theory. The isodesmic reaction method was employed to estimate the HOFs. The result shows that the introductions of azo and azoxy groups can increase the HOF, but the introduction of azo group can increase the more HOF, when compared with azoxy group. The detonation velocities and detonation pressures of the furazan-based energetic materials are further evaluated at B3LYP/6-31G* level. Dioxoazotetrafurazan and azoxytetrafurazan may be regarded as the potential candidates of high-energy density materials because of good detonation performance. In addition, there are good linear correlations between OB and detonation velocities, and OB and detonation pressures. The energy gaps between the HOMO and LUMO of the studied compounds are also investigated. These results provide basic information for the molecular design of novel high-energy density materials.