Aiming at the disadvantages of MD5 software such as large occupancy of resources and poor security, a hardware acceleration model of MD5 was put forward based on NetMagic platform, and then the non-streamlined and streamlined hardware acceleration models were verified and analyzed based on ModelSim and NetMagic platforms. Compared to non-streamlined acceleration model, the streamlined acceleration model can improve the operation efficiency of MD5 for five times. Its achievement can be applied to hardware encryption engine such as the network processor, which can effectively improve the security and processing efficiency of hardware equipment including the network processor.