The slide valve-type direct-acting relief valve with external orifice (SVTDARVWEO) is widely used in hydraulic systems, and its response characteristics are influenced by key factors. It is of great significance to carry out research on the influencing factors of the response characteristics of the SVTDARVWEO. The working principle of the SVTDARVWEO is analyzed in the present study. The simulation model of the SVTDARVWEO is established using AMESim. The influence of the orifice diameter, viscosity coefficient, valve element mass, spring stiffness, oil seal length, and valve element diameter on the response characteristics of the SVTDARVWEO is studied. The results show that: (1) The smaller the orifice diameter is, the smaller the oscillation frequency, amplitude and maximum overshoot of pressure, flowrate, displacement and velocity are. (2) When the viscosity coefficient is 50 N/(m/s), 55 N/(m/s) and 60 N/(m/s), the pressure, flowrate, displacement and velocity oscillate periodically, but the amplitude of the oscillation decreases gradually, and the oscillation frequency is 250 Hz. When the viscosity coefficient is 60 N/(m/s), the pressure, flowrate, displacement and velocity will reach their respective stable values earlier. (3) When the valve element mass is 0.01 kg, 0.015 kg and 0.02 kg, the pressure, flowrate, displacement and velocity oscillate periodically, but the amplitude of oscillation decreases gradually. When the valve element mass is 0.01 kg, the pressure, flowrate, displacement and velocity will reach the stable value earlier. (4) The smaller the spring stiffness is, the greater the maximum overshoot of pressure, flowrate, displacement and velocity is, and the higher the number of oscillations to reach the stable value are, in addition to more time being required. (5) With the increase in oil seal length, the maximum overshoot of pressure and velocity, stability value of displacement also increase correspondingly. (6) With the increase in the valve element diameter, the stable value of pressure decreases, and the oscillation frequency of pressure, flowrate, displacement and velocity increase, but the oscillation amplitude decreases.