The key issue when formulating a two-fluid model is to complement suitable closure correlations, which describe the interactions between the liquid phase and the vapor phase and have a strong effect on the accuracy of the model. In the present paper, the boiling flow channel of liquid nitrogen is divided into two sub-regions: the near-wall region and the interior flow region, the mechanism model of heat and mass transfer on nucleate boiling surface and the inter-phase interaction models are proposed for each region. The key correlations and the problems to be resolved are also proposed.