An accurate representation of the flow field in blood pumps is important for the design and optimization of blood pumps. The primary turbulence modeling methods applied to blood pumps have been the Reynolds-averaged Navier–Stokes (RANS) or URANS (unsteady RANS) method. Large eddy simulation (LES) method has been introduced to simulate blood pumps. Nonetheless, LES has not been widely used to assist in the design and optimization of blood pumps to date due to its formidable computational cost. The purpose of this study is to explore the potential of the LES technique as a fast and accurate engineering approach for the simulation of rotary blood pumps. The performance of “Light LES” (using the same time and spatial resolutions as the URANS) and LES in two rotary blood pumps was evaluated by comparing the results with the URANS and extensive experimental results. This study showed that the results of both “Light LES” and LES are superior to URANS, in terms of both performance curves and key flow features. URANS could not predict the flow separation and recirculation in diffusers for both pumps. In contrast, LES is superior to URANS in capturing these flows, performing well for both design and off-design conditions. The differences between the “Light LES” and LES results were relatively small. This study shows that with less computational cost than URANS, “Light LES” can be considered as a cost-effective engineering approach to assist in the design and optimization of rotary blood pumps.