The dynamic model of the shallow water drilling conductor under the wave and current loads is introduced, the analysis methods for the ultimate strength analysis, stability check and Vortex Induced Vibration (VIV) fatigue damage are summarized, the dynamic response and VIV fatigue damage of a conductor are analyzed, and the ultimate strength results, stability check results and the VIV fatigue life of the conductor meet the drilling operation requirements under the drilling condition. The analysis method of the vibration response, VIV fatigue damage and VIV fatigue life of the conductor provide reference and technical support for the safety of conductor.