Objective To design and build a new dynamic load and circulating perfusion bioreactor system and test its performance. Methods The design principle of the bioreactor system was specified and the dynamic strain loading system and 3D perfusion culture system were designed and built accordingly. A special culture chamber for 3D perfusion and compressive loading was also developed. The sterility of the culture chamber and the accuracy and stability of the strain loading were measured, and the result from the culture of tissue engineering bone was preliminarily observed. Results This bioreactor system could provide compressive strains with different magnitudes and frequencies, as well as perfusions under different flow conditions. It could be controlled accurately and operated easily with a steady performance. No germs were grown in the culture medium after 5 days’ running. The preliminary results showed that after the tissue engineering bones were cultured in the bioreactor for 10 days, cell proliferation and ALP activity in this perfusion culture and loading group were significantly higher than those in the static culture group and the simple perfusion culture group. Conclusions The bioreactor could be an ideal dynamic culture and loading device for biomechanical study of tissue engineering bone.