Water hammer phenomena caused by a sudden valve closure are investigated in one-component two-phase flows. The phenomena in one-component two-phase flows are more complicated than those in two-component two-phase flows because of the presence of mass transfer between liquid and vapor. Basic partial differential equations based on a one-dimensional homogeneous flow model are solved analytically by linearization and iterated Laplace transformation. The profiles of the pressure transients at the closing valve are given. It is shown that the mass transfer between the two phases has a great influence on the profile of the pressure transients, and that the magnitude of the influence depends on the relaxation time tau //M of the interphase mass transfer.