Double-electrode submerged arc welding (DE-SAW) is a new variant of the innovative double-electrode gas metal arc welding (DE-GMAW) process. In order to control this process, its dynamic model needs to be established. To this end, this paper analyzes the melting physical process of the consumable DE-SAW to derive its dynamic model. To identify the parameters in the dynamic model, a series of experiments are designed and performed. Least-squares technique has been used to identify the parameters from the experimental data.