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In this paper, a novel time decaying model was proposed for peer-to-peer (P2P) network. In the proposed approach, the direct trust value and the recommendation trust value were considered concurrently for the P2P network. The direct trust value for all other peers were recorded in a dynamic vector, and then decreased with the time. Two different time-decaying functions were presented in this study to consider both efficiency and balance for the system, named exponential time decaying function and slow start and malicious avoid (SSMA) function, respectively. The two time decaying model were formulated and illustrated. Then, comparison was also made between the two time decaying models.