The voltage stability is substantially a dynamic stability, but the primary method which is more mature and engineering practical to analyze the stability of voltage is still static analysis. The time-domain simulation is an important measure in research of complex power grid. With the development of full dynamic simulation technology, the research of dynamic voltage stability by using full dynamic simulation program which is based on time-domain simulation can be carried out. This paper uses full dynamic simulation program in dynamic voltage stability research, lays special stress on research in how generator over-excitation limiter functioned and influence in dynamic voltage stability research, and raise 2 methods and steps to figure out dynamic stable voltage in both over-excitation counted and not counted. The simulation results of examples indicate the correctness and effectiveness of these methods, and also fully verify the function and influence of generator over-excitation limiter in full dynamic voltage stability research.