The working principle and motion process of an aviation wet clutch are analyzed. The initial velocity before the friction pair engaged is solved. The transient Reynolds equation is modified, and an oil film bearing capacity model and a micro-convex bearing capacity model are derived. The film thickness equation between N friction pairs and a pressure-plate is derived. A dynamic engaged model of springs, pistons, friction pairs, and pressure plates are established. The torque balance equation is established of two pairs of friction pairs. The friction torque, rate of change in the oil film, and law of relative change in speed are obtained. The results demonstrate that the spring preload and the viscosity of the lubricating oil have a significant influence on the engagement characteristics. Increasing the quality of the friction plate will reduce the time of engagement, whereas the quality of the friction plate has slight effect on the friction torque characteristics and oil film thickness. The initial speed generated by the collision process will reduce the output speed, sharply increase the torque peak at the lock, and increase the shift shock.