Simulation of P2P systems at the scale of millions of nodes is important because some problems with the protocols or their implementations might not appear at smaller scales. In this work, we propose a parallel message-level simulator, P2PNet, which can simulate P2P systems with up to millions of nodes. P2PNet applies the technique of time expansion and uses real time to synchronize the processing of events among the participating processors. Simulation results show that P2PNet has small overhead compared with a single-processor event-driven simulator, a large speedup when multiple computers are used and no late events.