During the long-term service condition, the mooring line of the deep-water floating platform may fail due to various reasons, such as overloading caused by an accidental condition or performance deterioration. Therefore, the safety performance under the transient responses process should be evaluated in advance, during the design phase. A series of time-domain numerical simulations for evaluating the performance changes of a Floating Production Storage and Offloading (FPSO) with different broken modes of mooring lines was carried out. The broken conditions include the single mooring line or two mooring lines failure under ipsilateral, opposite, and adjacent sides. The resulting transient and following steady-state responses of the vessel and the mooring line tensions were analyzed, and the corresponding influence mechanism was investigated. The accidental failure of a single or two mooring lines changes the watch circle of the vessel and the tension redistribution of the remaining mooring lines. The results indicated that the failure of mooring lines mainly influences the responses of sway, surge, and yaw, and the change rule is closely related to the stiffness and symmetry of the mooring system. The simulation results could give a profound understanding of the transient-effects influence process of mooring line failure, and the suggestions are given to account for the transient effects in the design of the mooring system.