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Urban traffic system, which is characterized by dynamics, concurrence and synchronization, is a hybrid dynamic stochastic system involving discrete and continuous behaviors. The modeling and analyzing of urban traffic system is the key of the deep understanding of the whole traffic and better guiding and controlling of urban traffic system, especially under the current traffic status, which is more and more congested and complicated. So we proposed the Dynamic Stochastic Fluid Petri Net (DSFPN) of well mathematical analysis ability, which can give a good description of the dynamic and stochastic character of the urban traffic system. The dynamic attributes and the stochastic actions of urban traffic system can be then modeled by Dynamic Stochastic Fluid Petri Net. Then an example of an intersection are modeled and presented in this paper. The simulation and performance analysis of urban traffic system model is introduced to indicate the validity of the DSFPN.