LADAR systems can rapidly acquire 3D point clouds by sampling the target surfaces using laser pulses. Such point clouds are widely used for diverse applications such as DSM/DTM generation, forest biomass estimation, target detection, wire avoidance and so on. Many kinds of LADAR systems have been developed with their respective purposes and applications. Particularly, Geiger mode imaging LADAR systems are increasingly utilized since they are energy efficient thank to extremely sensitive detectors incorporated into the systems. The purpose of this research is the performance assessment of a Geiger mode imaging LADAR system based on simulation with the real system parameters. We thus developed a simulation method of such a LADAR system by modeling its geometric, radiometric, optic and electronic aspects. Based on the simulation, we performed the performance assessment of a newly designed system to derive the outlier ratio and false alarm rate expected during its operation in almost real environment with reasonable system parameters. The proposed simulation and performance assessment method will be effectively utilized for system design and optimization, and test data generation.