The internal flow between the impellers of IH65 centrifugal pump is investigated. Based on the Reynolds-averaging N-S equations and standard k-ε two-equation turbulent model, the simulations of turbulent flow between the impellers are performed by using the flow computing software Fluent under different operating conditions. The calculation results are compared with the experimental data by particle image velocimeter (PIV). Based on the analysis of the calculated results of velocity and pressure profiles in the centrifugal pump and experimentally observed phenomenon of flow impact, secondary flow and recirculation, some design improvements are proposed, which give suggestions on the optimal design and internal two-phase flow study of the centrifugal pump.