The turbine system of a two-stage turbocharger composed of high pressure turbine (HT), low pressure turbine (LT), and by-pass valve decides distribution and utilization of exhaust gas energy and influence performance of two-stage turbocharger in whole operational conditions. Besides, characteristics of turbine is expressed by envelop line of characteristic lines in different speeds. So turbine can be conveniently selected compared with compressor with similarity theory. Therefore, two-stage turbocharger matching begins from turbine system matching in the paper. In two-stage turbocharger, cooler efficiency, cooler loss, and by-pass valve open besides turbochargers will influence turbocharging system performance and design of cooler and by-pass valve are important contents of turbocharging system matching. The paper matched intercooler, by-pass valve open, compressors, and turbines jointly. Calculation model for turbocharger matching was built, and turbine performance is get from reference turbine based on similarity theory; influence of compressor ratio distribution, cooler efficiency, and pressure drop in cooler imposing on compressor work was analyzed; and influence of turbine flow capacity and by-pass valve imposing on output working in expanding process was studied; the method for matching of two-stage turbocharging system in whole operational condition is studied. Matching analysis was made aiming at two-stage turbocharging system of a type of high power density diesel engine, and design for turbocharging system was finished. Matching result using the method is compared to matching result using traditional method. Analysis result proves that using the method matching points in different operational conditions are located in more reasonable zone of compressor MAP.