This paper proposes a quasi-optimal power flow (OPF) algorithm for flexible DC traction power systems (TPSs). Near-optimal OPF solutions can be solved with high computational efficiency by quasi-OPF. Unlike conventional OPF algorithms, quasi-OPF does not utilize mathematical optimization algorithms but adopts a new methodology. First, we adopt a new modeling method and successfully reveal the physical meaning of OPF solutions in flexible DC TPSs. Then, by converting the physical meaning of OPF solutions into mathematical expressions, a simple mapping from the power flow solution to the near-optimal OPF solution is obtained, and the quasi-OPF algorithm is designed based on power flow and this mapping. Since calculating power flow is computationally cheap and the mapping is based on simple arithmetic, the quasi-OPF algorithm can solve OPF with much less execution time, achieving subsecond level calculation and a speed-up of 57 times compared to the primal-dual interior point method. The effectiveness is verified by mathematical proofs and a case study with Beijing Metro Line 13. This study provides insight into the physical meaning of OPF solutions and is a powerful tool for flexible DC TPSs to analyze the effects of coordinated control, design real-time coordinated control strategies, and solve operational problems in planning.