Based on the dynamic triaxial liquefaction test of the loess samples which are taken from Shibei tableland, Guyuan City, Ningxia, China, the characteristics of dynamic strain, dynamic stress and pore water pressure are studied under cyclic loading. Triaxial shear test is conducted immediately after the sample reaches liquefaction point. During the test, the property of the liquefied soil is analyzed through fluid mechanics method, whereby the fluidity of the liquefied soil is represented by apparent viscosity. The results show that the fluidity of liquefied loess changes from“shear thickening”to“shear thinning”as the shear force continues, and the fluidity of liquefied loess is closely related to its structure. In addition, in the process of forming a new stable state, the apparent viscosity and deviant stress change with axial strain in a similar approach. When the sample reaches its stable state, it meanwhile shows a relatively stable apparent viscosity. According to the fluid mechanics and the law of conservation of energy, the slip distance of the liquefied soil is estimated, and the results are in good agreement with the field investigation results.