The dynamical behavior of the subcooled boiling two-phase system was introduced and discussed. With the introduction of fractal concept, an analysis of the fractal feature of pressure wave signals from nonlinear dynamics point of view, was carried out. Meanwhile, the pseudo phase diagrams of typical time series of sound pressure were given. Finally, through dynamic clustering and on the basis of calculating correlation dimension and Hurst exponent of pressure wave time series on different subcooling conditions, the recognition of developing regime of the two-phase system was delivered, which might provide a promising approach of recognition and diagnosis of a boiling system.