Mathematical models of the grinding process are the basis of analysis, simulation and control. Most existent models including theoretical models and identification models are, however, inconvenient for direct analysis. In addition, many models pay much attention to the local details in the closed-circuit grinding process while overlooking the systematic behavior of the process as a whole. From the systematic perspective, the dynamic behavior of the whole closed-circuit grinding-classification process is considered and a first-order transfer function model describing the dynamic relation between the raw material and the product is established. The model proves that the time constant of the closed-circuit process is lager than that of the open-circuit process and reveals how physical parameters affect the process dynamic behavior. These are very helpful to understand, design and control the closed-circuit grinding-classification process.