Abstract: 3-Nitro−1,2,4-triazol−5-one (NTO) is an explosive with broad application prospects. To study the effect of NTO content on the properties of HMX-based cast-PBX (polymer bonded explosive), five different HMX/NTO-based cast-PBXs were prepared and characterized by experiments and simulations. The results show that the addition of NTO is beneficial to reduce the mechanical sensitivity of cast-PBX, but will reduce the energy level of cast-PBX. We then found that with the increase in NTO content, cast-PBX showed a trend of first increasing and then decreasing in terms of mechanical properties, specific heat capacity (Cp) and thermal conductivity (λ). In addition, we found that the Gurney energy (Eg) of N30 is 2.31 kJ/g. Finally, the increase in NTO content greatly improves the thermal safety performance of the cast-PBXs, and numerical simulation of slow cook-off can be used as one reliable method to obtain the ignition location, ignition temperature and the transient temperature distribution.