Multi-terminal DC distribution system has become one of the important critical technologies of the power grid system due to its many advantages. The study of overvoltage and overcurrent and their protection methods in typical faults is one of the key technologies. In this paper, the simulation analysis of overvoltage and overcurrent under typical faults are carried out for ±10 kV three-terminal DC distribution system and the protection scheme of overcurrent and overvoltage is proposed. And the influence of system overcurrent protection scheme on overvoltage and overvoltage protection scheme on overcurrent are analyzed. Firstly, based on PSCAD/EMTDC, the simulation analysis model of three-terminal DC distribution system is established. Secondly, the causes of fault current in pole-to-pole fault are analyzed, and two overcurrent protection schemes and parameters are proposed. On this basis, the influences of overcurrent protection schemes on overvoltage are simulated and analyzed. Finally, based on the simulation results, the configuration scheme of arrester is proposed, and the switching impulse withstand voltage of key equipment under different current limiting schemes is simulated and analyzed, as well as the overcurrent of typical faults is simulated and analyzed when the system is unconfigured and configured the arrester. At last, the coordinated protection method of overcurrent and overvoltage is proposed. The research results can provide reference for the selection of overcurrent and overvoltage protection schemes for multi-terminal DC distribution system.