Dynamic gas–liquid separator (DGLS) can efficiently separate gas and liquid phases and are widely used in aerospace, chemical, and petroleum engineering. The energy loss and separation efficiency within the DGLS are studied through the combination of numerical simulations and experiments. Three-dimensional transient Reynolds-Averaged Navier–Stokes equations were solved to analyze the fluid dynamics within the DGLS. The bubble aggregation and breakup in oil were simulated by using the population balance model. Experimental data were meticulously compared with numerical results to validate the accuracy and reliability of the numerical methods. The findings revealed a direct correlation between the inlet flow rate and various performance metrics of the DGLS. Specifically, as the inlet flow rate increased, the energy loss within the DGLS escalated, resulting in higher power consumption. The degassing rate of the DGLS exhibited a decreasing trend with increasing inlet flow rate, while the de-oiling rate showed an inverse relationship. The optimal performance of the separator was observed at an inlet flow rate of 140 m3·d−1, with ηg* and ηl* reaching 0.94 and 0.99, respectively. The relationship between the Qo and the η* and Po was fitted by a second-order polynomial. Moreover, the rotational speed of the DGLS demonstrated a positive correlation with energy consumption, accompanied by an increase in power output. However, the separation efficiency of the DGLS exhibited a non-linear relationship with rotational speed, peaking at a specific value before marginally declining. The optimization of degassing and dewatering rates occurred at a rotational speed of 2500 r·min−1. These findings underscore the importance of carefully adjusting operational parameters to achieve optimal performance and energy efficiency within DGLS.