The development of reusable liquid rocket turbopumps has gradually highlighted the disadvantages of rolling bearings, particularly the contradiction between long service life and high rotational speed. It is critical to explore a feasible bearing scheme offering a long wear life and high stability to replace the existing rolling bearings. In this study, liquid nitrogen is adopted to simulate the ultra-low temperature environment of liquid rocket turbopumps, and theoretical evaluations of the lubrication performance of thrust-type foil bearings in liquid nitrogen are conducted. A link-spring model for the bump foil structure and a thin-plate finite element model for the top foil structure are established. The static and dynamic characteristics of the bearings are analyzed using methods including the finite difference method, the Newton–Raphson iteration method, and the finite element method. Detailed analysis includes the effects of factors such as rotational speed, fluid film thickness, thrust disk tilt angle, and the friction coefficient of the bump foil interface on the static and dynamic characteristics of thrust-type foil bearings. The research results indicate that thrust-type foil bearings have a good load-carrying capacity and low frictional power consumption. The adaptive deformation of the foil structure increases the fluid film thickness, preventing dry friction due to direct contact between the rotor journal and the bearing surface. When faced with thrust disk tilt, the direct translational stiffness and damping coefficient of the bearing do not undergo significant changes, ensuring system stability. Based on the results of this study, the exceptional performance characteristics of thrust-type foil bearings make them a promising alternative to rolling bearings for the development of reusable liquid rocket turbopumps.