Membrane stripping is a promising method for carbon dioxide (CO2) desorption with low energy demand. We developed a mathematical model to simulate the CO2 stripping from the CO2-rich monoethanolamine (MEA) solvent in a hollow fiber membrane contactor. The modeling results agreed well with literature experimental results. To improve the understanding and facilitate the optimization of the membrane based CO2 stripping process, we investigated the effects of different operating variables including liquid flow velocity, sweeping gas flow rate, regeneration pressure, and temperature on CO2 desorption performance. The effects of membrane's length and diameter of membrane fiber on CO2 desorption were also studied. Results showed that increasing membrane's length will improve CO2 stripping performance, but not infinitely, because of the thermodynamic limitation of absorbent, and shorter membrane module is preferred for thinner membrane. Membranes with a smaller diameter favor CO2 desorption. To predict the influence of membrane wetting on CO2 stripping performance, the change of CO2 lean loading with the wetting ratio was investigated. Membrane wetting significantly deteriorates CO2 membrane desorption performance, with CO2 lean loading increasing suddenly once the membrane is wetted.