The bonus-point victory means that Ulster have two wins from their opening three fixtures of the tournament, with three rounds to play in May.
After a strong start to the match, Ulster hit first with the captain, Ethan McIlroy, getting his name on the scoresheet.
After a strong tackle breaking carry from Marcus Rea into the Munster half, he released Lorcan McLoughlin, who showed good awareness to offload to McIlroy, who showed great pace to sprint through for the score. James Humphreys added the conversion.
Ulster's backline were popping the ball around with confidence, helping by good carrying and metres from the forward pack.
The second try came from winger, Ben Moxham, after a slick attacking move that saw Academy back, Wilhelm De Klerk, break into space in the Munster 22.
The centre expertly found Moxham who then dived over for the finish in the corner.
A proud opening quarter for both McIlroy and Moxham, who are working their way back following long term ACL injuries.
Ulster showed their defensive resolve with Munster seeking a way back into the game. The busy Lorcan McLoughlin putting his body on the line and holding up Munster's surge towards the try line.
Throughout the half, Ulster were getting on top of the scrum and also pressuring Munster into penalties around the breakdown.
Before the half was up, Eric O'Sullivan powered over for the third try. Wilhelm De Klerk was instrumental again, breaking into space before the ball was kept alive and passed to the senior loosehead prop who produced the finish. Humphreys' conversion brought the scoreline to 19-0 at HT.
HT: Ulster 'A' 34-7 Munster 'A'
Ulster started the second half fully on the front foot, and just over a minute into the second half, Academy hooker Henry Walker peeled off the back of an attacking lineout maul and produced the finish.
Walker was instrumental in Ulster's fifth try five minutes later, after another lineout maul. Walker peeled away from the back and found scrum-half, David Shanahan, running the support line. Walker fed the experienced nine who had the pace and dotted down in the corner.
Munster increased their tempo, looking to get back into the game and came close but for a try saving tackle from James Humphreys, who tackled the Munster centre into touch.
Ulster were continuing to get joy in the scrum and won another penalty to give themselves territory.
On the hour mark, Lorcan McLoughlin made a superb last ditch tackle on Munster's Gibbons into touch, another try saving tackle from an Ulster player.
Munster's pressure would pay off, as replacement scrum-half Adam Maher put the away side on the scoresheet, with Ben O'Connor converting.
There was another great moment for Ulster 'A' before the end, with PTS player and replacement full-back, Owen O'Kane, showing great awareness to tap and go from a penalty to score Ulster's sixth of the afternoon.
Ulster closed the game out and held out another Munster try attempt to secure the 34-7 victory.
A very encouraging performance from Ulster, who were the dominant side throughout on both sides of the ball and put in a great team performance against their provincial rivals.
Scorers
Ulster 'A':
TRY: McIlroy, Moxham, O'Sullivan, Walker, Shanahan, O'Kane
CON: Humphreys (2)
Munster 'A':
TRY: Maher
CON: 'O'Connor
Teams
Ulster A:
1. Eric O’Sullivan, 2. Henry Walker, 3. Tom McAllister, 4. Joe Hopes, 5. James McKillop, 6. Marcus Rea, 7. Tom Brigg, 8. Lorcan McLoughlin, 9. David Shanahan, 10. James Humphreys, 11. Jonathan Scott, 12. Ben Carson, 13. Wilhelm De Klerk, 14. Ben Moxham, 15. Ethan McIlroy (Capt)
Replacements:
16. James McCormick, 17. Callum Reid, 18. Bryan O’Connor, 19. Paddy Woods, 20. Noah Bell, 21. Clark Logan, 22. Jake Flannery, 23. Owen O’Kane, 24. Ben Moore
Munster A:
Ben O’Connor (UCC); Andrew Smith (Young Munster), Seán O’Brien (Nenagh Ormond), Eoghan Smyth (Cork Constitution), Diarmuid Kilgallen (Garryowen); Tony Butler (Young Munster), Paddy Patterson (Cork Constitution); J
Josh Wycherley (Young Munster), Max Clein (Garryowen), Ronan Foxe (Garryowen); Michael Foy (C) (Cork Constitution), Conor Ryan (UCC); Seán Edogbo (UCC), Oisín Minogue (Shannon), Ruadhán Quinn (Young Munster).
Replacements: Jonathan Byrne (Garryowen), Kieran Ryan (Young Munster), Emmet Calvey (Shannon), Rory Woods (Garryowen), Conor Kennelly (Highfield), Adam Maher (Cork Constitution), Dylan Hicks (Cork Constitution), Fionn Gibbons (Young Munster), Gene O’Leary-Kareem (UCC).