Non-Hermitian systems have observed numerous novel phenomena and might lead to various applications.Unlike standard quantum physics,the conservation of energy guaranteed by the closed system is broken in the non-Hermitian system,and the energy can be exchanged between the system and the environment.Here we present a scheme for simulating the dissipative phase transition with an open quantum optical system.The competition between the coherent interaction and dissipation leads to the second-order phase transition.Furthermore,the quantum correlation in terms of squeezing is studied around the critical point.Our work may provide a new route to explore the non-Hermitian quantum physics with feasible techniques in experiments.