It is desired to require a walking robot for the elderly and the disabled to have large capacity, high stiffness, stability, etc. However, the existing walking robots cannot achieve these requirements because of the weight-payload ratio and simple function. Therefore, Improvement of enhancing capacity and functions of the walking robot is an important research issue. According to walking requirements and combining modularization and reconfigurable ideas, a quadruped/biped reconfigurable walking robot with parallel leg mechanism is proposed. The proposed robot can be used for both a biped and a quadruped walking robot. The kinematics and performance analysis of a 3-UPU parallel mechanism which is the basic leg mechanism of a quadruped walking robot are conducted and the structural parameters are optimized. The results show that performance of the walking robot is optimal when the circumradius R, r of the upper and lower platform of leg mechanism are 161.7 mm, 57.7 mm, respectively. Based on the optimal results, the kinematics and dynamics of the quadruped walking robot in the static walking mode are derived with the application of parallel mechanism and influence coefficient theory, and the optimal coordination distribution of the dynamic load for the quadruped walking robot with over-determinate inputs is analyzed, which solves dynamic load coupling caused by the branches’ constraint of the robot in the walk process. Besides laying a theoretical foundation for development of the prototype, the kinematics and dynamics studies on the quadruped walking robot also boost the theoretical research of the quadruped walking and the practical applications of parallel mechanism.