Semiconductor wafer fabrication system (SWFS) is the most complex and capital-intensive phase in the entire semiconductor manufacturing cycle. With characteristics of re-entrant processing routes, equipment uncertainty, product diversity and improving technologies, great challenges are presented in SWFS's modeling, scheduling and simulation. To implement efficient production control, this paper provides a timed extended object-oriented Petri nets (TEOPNs) approach to performance modeling, real-timed dispatching and simulation of SWFSs. The TEOPNs models are constructed in a hierarchy to accord with the real-world SWFS's organization, and a new type of signal place is added into the TEOPNs to respond the dynamic states of all processing facilities. A novel autonomy and coordination-based real-time dispatching mechanism (A&C-RDM) is developed in this paper, which executes under the support of the TEOPNs-based hybrid real-time dispatching control system (HRDCS). Owning to the ability of gathering dynamic real-time information of all production facilities and WIP products, the HRDCS can make adaptive dispatching decisions according to the local and global real-time processing status. Two sets of key elements of real-time dispatching, i.e. the state thresholds and dispatching rules, are defined in the HRDCS so that the A&C-RDM can integrate different types of dispatching rules. A set of simulation experiments prove the efficiency of the proposed modeling and dispatching algorithm. In summary, the proposed TEOPNs, HRDCS and A&C-RDM form the cornerstones of a real-time dispatching simulation prototype of SWFS, and the work described in this paper carries out an advanced integrated ''modeling-dispatching-simulation'' methodology.