The unstable operation of a centrifugal pump under the gas-liquid two-phase condition seriously affects its performance and reliability. In order to study the gas phase distribution and the unsteady force in an impeller, based on the Euler-Euler heterogeneous flow model, the steady and unsteady numerical calculations of the gas-liquid two-phase full flow field in a centrifugal pump was carried out, and the simulation results were compared with the test data. The results show that the test results are in good agreement with the simulation data, which proves the accuracy of the numerical calculation method. The energy performance curve of the model pump decreases with the increase of the gas content, which illustrates a serious impact on the performance under the part-load operating condition. The results reveal that the high-efficiency-operating range become narrow, as the gas content increases. The gas phase is mainly distributed on the suction surface of the impeller blades. When the gas content reaches a certain value, the gas phase separation occurs. As the inlet gas content increases, the radial force on the impeller blades decreases. The pattern of the pressure pulsation is similar to that under pure water and low gas content conditions, and the number of peaks during the pulsation is equal to the number of the impeller blades. After the gas content reaches a certain value, the pressure fluctuates disorderly and the magnitude and the direction of radial force change frequently, which are detrimental to the operation stability of the pump. The intensity of the pressure pulsations in the impeller flow channel continues to increase in the direction of the flow under pure water conditions. The pressure pulsation intensities at the blade inlet and the volute tongue become more severe with the increase of the gas content.