Tensile tests were performed on Cu64Zr36 metallic glass at strain rates of 107/s, 108/s, and 109/s via classical molecular dynamics simulations to explore the underlying mechanism by which strain rate affects deformation behavior. It was found that strain rate has a great impact on the deformation behavior of metallic glass. The higher the strain rate is, the larger the yield strength. We also found that the strain rate changes the atomic structure evolution during deformation, but that the difference in the atomic structure evolution induced by different strain rates is not significant. However, the mechanical response under deformation conditions is found to be significantly different with the change in strain rate. The average von Mises strain of a system in the case of 107/s is much larger than that of 109/s. In contrast, more atoms tend to participate in deformation with increasing strain rate, indicating that the strain localization degree is more significant in cases of lower strain rates. Therefore, increasing the strain rate reduces the degree of deformation heterogeneity, leading to an increase in yield strength. Further analysis shows that the structural features of atomic clusters faded out during deformation as the strain rate increased, benefiting more homogeneous deformation behavior. Our findings provide more useful insights into the deformation mechanisms of metallic glass.