When the hydrostatic forklift completes the walking braking process through the brake relief valve, most of the momentum of the forklift is lost in the form of heat energy. In order to reduce the braking energy loss, this paper designs a hydrostatic forklift traveling brake energy recovery system based on an accumulator and a dual pump/motor. The working principle of the energy recovery system is analyzed, the parameters of each part of the forklift are calculated, the mathematical model of the system and the AMESim simulation model are established, and the two operating conditions of start-stop without energy recovery and start-stop with energy recovery are compared and analyzed. The results show that the recovery efficiency of the accumulator of the system can reach 26.41%, the energy reuse efficiency can reach 90.81%, and the total energy saving efficiency can reach up to 23.98%. The energy-saving efficiency of this energy recovery system is considerable, which provides a reference for further research on energy-saving technology of hydrostatic forklifts.