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High-speed is one of the features for future traffic, and the traditional hard load balancing cannot take full advantage of resources when dealing with high-speed traffic over the heterogeneous wireless networks. Enlightened by the ideas of soft load balancing, we propose a load balancing algorithm based on dividing IP flow for high-speed traffic in heterogeneous wireless networks. The optimal flow-dividing ratio is obtained via numerical analysis, and the radio access selection and handover are implemented to achieve parallel transmission in multiple networks according to the optimal flow-dividing ratio. Simulation results indicate that the algorithm we propose has good performances in traffic blocking probability and load balancing.