This paper aims to summarize the results of several experimental investigations regarding two-phase liquid–gas flows in radial centrifugal pumps. The main objective is to combine the corresponding experimental results and collect the obtained knowledge to provide a better understanding of this configuration. The simultaneous transport of the two phases, the phase segregation, and the regions of safe or critical pump performance were described for a wide variety of pump configurations. This review covers single- and two-phase pumping conditions, performance degradation, pump breakdown, performance hysteresis, different flow regimes, flow regime maps, flow instabilities, and surging. This manuscript also considers the influence of employing different pump configurations on pump performance and flow regimes. This includes comparisons between closed and semi-open impellers, standard and increased tip clearance gaps, and running the pump with and without an inducer. Many of the results discussed have been published in a series of research papers. They were all collected, summarized, and compared systematically in the present review.