The traditional load-sensing hydraulic system is an energy-saving fluid power transmission, which supply "on-demand" flow at a prescribed pressure margin greater than the highest load pressure of the system. In this paper, a novel load-sensing system that has a variable pressure margin through overriding differential pressure control via integrating an electro-proportional three-way type pressure reducing valve into the hydro-mechanical load-sensing valve is proposed. Also, a bond graph model taking into account the dynamic characteristics of load-sensing valve and load-sensing path is constructed, and three group experiments are performed to verify the validation of the model. Based on the bond graph model, a series of theoretical simulations are carried out to prove that the proposed Load-Sensing system enables a satisfactory balance between energy efficiency and rapid dynamic response over a wide range of operating conditions. In addition, due to overriding differential pressure control, mode selection and power limit regulation can also be achieved.