This paper established retrieval algorithm of sea surface temperature，sea surface wind speed，atmospheric water vapor content，atmospheric liquid water content and rain rate for the HY-2 scanning microwave radiometer using simulation data of radiation transfer equation. And then we used on-orbit data to retrieve these parameters. The validation of sea surface temperature，sea surface wind speed shows that the algorithm is feasible and reasonable，which can retrieve the atmospheric and ocean parameters，and the accuracy meets the requirement of the design indicators. Currently，the validation of other parameters is still going on. The retrieval algorithm will be optimized by further calibration of brightness temperature.