An integrated flow model was developed to simulate the fluidization hydrodynamics in a new bubble‐driven gas–liquid–solid fluidized bed using the computational fluid dynamic (CFD) method. The results showed that axial solids holdup is affected by grid size, bubble diameter, and the interphase drag models used in the simulation. Good agreements with experimental data could be obtained by adopting the following parameters: 5 mm grid, 1.2 mm bubble diameter, the Tomiyama gas–liquid model, the Schiller–Naumann liquid–solid model, and the Gidaspow gas–solid model. At full fluidization state, an internal circulation of particles flowing upward near the wall and downward in the centre is observed, which is in the opposite direction compared with the traditional core‐annular flow structure in a gas–solid fluidized bed. The simulated results are very sensitive to bubble diameters. Using smaller bubble diameters would lead to excessive liquid bed expansions and more solid accumulated at the bottom due to a bigger gas–liquid drag force, while bigger bubble diameters would result in a higher solid bed height caused by a smaller gas–solid drag force. Considering the actual bubble distribution, population balance model (PBM) is employed to characterize the coalescence and break up of bubbles. The calculated bubble diameters grow up from 2–4 mm at the bottom to 5–10 mm at the upper section of the bed, which are comparable to those observed in experiments. The simulation results could provide valuable information for the design and optimization of this new type of fluidized system.