The operation of the nuclear reactor requires accurate and fast methods and techniques for analysing its kinetics. These techniques become even more important when the MOX-fuel is used due to the lower value of delayed neutron fraction β for 239Pu. Based on a Birth-and-Death process review, the mathematical model of thermal reactor core has been proposed different from existing ones. The analytical method for thermal point-reactor parameters evaluation is described within this work. The proposed method is applied for analysis of the unsteady transient processes taking place in a thermal reactor at its start-up or shutdown power change, as well as during small accidental power variation from the rated value. Theoretical determination of MASURCA reactor core reactivity through the analysis of experimental data on neutron time spectra was made.