In the readout electronics of the Water Cerenkov Detector Array (WCDA) in the Large High Altitude Air Shower Observatory (LHAASO), both high-resolution charge and time measurement are required over a dynamic range from 1 photoelectron (P.E.) to 4000 P.E. for the PMT signal readout. In this paper, we present our work on the design of time discrimination circuits in LHAASO WCDA, especially on improvement to reduce the circuit dead time. Several approaches were studied through analysis and simulations, and actual circuits were designed and tested in the laboratory to evaluate the performance. Test results indicate that a time resolution better than 500 ps RMS is achieved in the whole large dynamic range, and the circuit dead time is successfully reduced to less than 200 ns.